Pakistan seeks multi billions dollars private investment deal

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Pakistan seeks multi billions dollars private investment deal

ISLAMABAD - The 8th meeting of Transaction Committee for Privatization and National Power Parks Management Company Limited (NPPMCL) on Monday held to discuss the progress in relation to a range of matters in connection with proposed privatization of two power plants, Haveli Bahadarshah and Balloki.

The committee discussed the matter after 12 investors were prequalified for the final bidding process, said a press release issued by Ministry of Privatization here.

The meeting of Committee for Privatization and NPPMC was jointly chaired by the Minister for Privatization Muhammadmian Soomro and Special Assistant to Prime Minister on Petroleum, Nadeem Baber.

Chairman NEPRA,CEO, NPPMCL, Federal Secretary Privatization, PC board members, representatives from Power Division, Petroleum Division: PSO, SNGPL,SSGC financial advisors and PC team attended the meeting.

Soomro emphasized that we were leaving no stone unturned towards the completion of privatization of these power plants by mid of April this year.

He added that Prime Minister was apprised regularly to that effect, and the government was in liaison with concerned Ministries/ Divisions to discuss the issues and their resolution so that the subject transaction could be completed within stipulated time in an organized manner.

Chairman NEPRA reported a significant progress in relation to matters within his purview SAPM on Petroleum Nadeem Baber said that Ministry of Energy and Petroleum had been fully cooperating and will be persistent in its support to resolve relevant matters in order to expedite the process.

Moreover, it was told in the meeting that with the inauguration of Virtual Data Room (VDR), in National Power Parks Management Company Limited (NPPMCL) most of the information for the potential investors had been uploaded after verification by NPPMCL team.

He said, “We were moving closer towards privatization of these RLNG power plants, and all the stakeholders were committed to proceed in line with the decision of Cabinet Committee on Privatization (CCOP) and directions of Prime Minister.”