Govt amends buyback rules to cut debt servicing cost

ISLAMABAD: Amid an unprecedented Rs3.4 trillion profit of the central bank on the back of unprecedented 22 per cent policy rate, the government on Thursday amended rules for buyback in government securities and exchange programme to reduce debt servicing cost by end-December this year.

The “scope (of Government Securities Buyback & Exchange Programme) has been enhanced from existing “Buyback Programme” to “Buyback & Exchange Programme” as per International best practices” with the approval of the competent authority...