The Pensioner Bondholders’ Forum has issued a statement outlining the current situation of the government’s intention to purchase back all principal amounts at market price from June 2023 to December 2023.
According to the Forum, no final decision on the submission of such a proposal has been made. The Forum emphasized that, based on earlier discussions between the Finance Ministry, the Ministry was considering making such an offer.
However, if a “buy back” offer is being considered, the Forum recommended that it included the principal amount plus accumulated interest payable to guarantee a fair resolution for bondholders.
The Pensioner Bondholders’ Forum made this claim following a previous meeting at which the Finance Ministry, representing the Government – promised to address the concerns of individual pensioner bondholders.
The conference resulted in the government making a number of undertakings to correct the issue and provide assistance to impacted bondholders.
To address concerns, clarify details, and foster a constructive dialogue, the government has extended an invitation to all members of the Pensioners Bondholder Forum to attend a meeting scheduled for Thursday, 8th June 2023, at 9:00 am. This meeting serves as a platform for open discussions and aims to expedite the resolution process.
Government Promised Bondholders Of Prompt Coupon Repayment
One of the first acts pledged by the government was the timely payment of outstanding coupons due from May 12th to May 29th, 2023. This measure was intended to relieve the financial load on retirees who have been waiting for their rightful coupon payments.
In addition to the coupon payments, the government stated that it will ensure the payment of outstanding principal amounts payable from February 20th to May 29th, 2023.
The government planned to make these outstanding principal payments within two weeks of the meeting date, giving much-needed financial stability to the impacted retirees.
As pensioners eagerly await a clear resolution, the Pensioner Bondholders’ Forum emphasized the importance of fair and transparent solutions that consider the principal amount and accrued interest payable.
The upcoming meeting between the Forum and the Finance Ministry will play a crucial role in shaping the outcome and providing much-needed clarity for all affected bondholders.
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