*KARACHI: Prominent International fiscal institutions have expressedinterest for a role in Pakistan’s biggest privatization in over a decade,Bloomberg said in a report.*
The privatization could generate around two billion dollars, citing thepeople with knowledge of the matter, the magazine’s report said.
JPMorgan Chase & Co., CLSA and Credit Suisse Group AG are reportedly amongforeign banks pitching for an advisory role in the government’s sale of twostate-owned LNG-fired power plants.
Pakistan is selling state firm National Power Parks Management Co, thatowns the 1,230-megawatt Haveli Bahadur Shah plant and the 1,223-megawattBalloki plant in Punjab.
According to the report Pakistan has received about 10 bids from groupsseeking a financial advisory role.
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Citigroup Inc. and Standard Chartered Plc made their separate proposals,while Lazard Ltd. is pitching with Pakistani brokerage house. Pak BruneiInvestment Co. is also pitching for a role on the power plant divestment.
The government sources said it aims to complete the privatization of thepower plants in the financial year ending on June 30.
The sale would be Pakistan’s largest privatization deal since 2006, whenEmirates Telecommunications Group bought $2.6 billion stake in PakistanTelecommunication Co.
