Government commits to resolving outstanding payments for non-tendered securities
In a recent meeting between the government and the Pensioners Bondholder Forum, resolutions were made to address the outstanding coupon and principal payments in non-tendered Government securities owed to individual pensioners bondholders. The meeting produced a series of commitments from the government to rectify the situation and provide relief to the affected bondholders.
First and foremost, the government pledged to promptly pay the outstanding coupons that were due from 12th to 29th May 2023. This immediate action aims to alleviate the financial burden faced by pensioners who have been eagerly awaiting their rightful coupon payments.
Additionally, the government expressed its commitment to ensuring the payment of outstanding principal amounts owed from 20th February 2023 to 29th May 2023. Within two weeks from the date of the meeting, the government intends to settle these outstanding principal payments, providing much-needed financial stability to the affected pensioners.
Furthermore, the government proposed a buyback initiative for the principal amounts due from June 2023 to December 2023. This proposal suggests that the government will repurchase the principal amounts at the prevailing market price, offering bondholders an opportunity to recoup their investments in a more timely manner.
Recognizing the importance of open communication and collaboration, the government plans to convene a meeting with the larger group of the Pensioners Bondholder Forum on Thursday, 8th June 2023. This gathering will provide an opportunity for further discussion and engagement regarding the outstanding issues and potential solutions. The government values the input and perspectives of the bondholders and aims to work together towards a mutually beneficial resolution.
In light of the meeting resolutions, the government extended an invitation to all members of the Pensioners Bondholder Forum to attend the meeting scheduled for Thursday, 8th June 2023, at 9:00 am. This meeting will serve as a platform to address concerns, clarify details, and foster a constructive dialogue to expedite the resolution process.
By actively engaging with the affected bondholders, the government aims to provide much-needed relief and ensure the timely fulfillment of its obligations. Through open communication and collaboration, a mutually beneficial solution can be achieved, restoring confidence and stability in the pensioners’ bondholder community.
