PAKISTAN: Pakistan’s state-owned water and power utility, the Water and Power Development Authority (WAPDA), is issuing the fourth tranche of Sukuk worth PKR15 billion (US$52.12 million) with a tenor of nine years to partially finance the construction of the Dasu hydropower project Stage-I. The issuance is part of the local financing facility package of PKR144 billion (US$500.35 million) availed from a local syndicate bank for a period of 15 years, whereby PKR52.8 billion (US$183.46 million) is to be raised in....