Pakistan decides to privatise key power projects

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Pakistan decides to privatise key power projects

ISLAMABAD - Federal government has decided to privatise key power projects, media has reported on Wednesday.

The meeting of the Cabinet Committee on Privatization (CCOP) took the decision in this regard.

CCOP meeting was held on Wednesday with Finance Minister Asad Umar in the chair.

The Privatization Division secretary gave the meeting an update on the privatization process of public sector entities listed on the active privatization list, including RLNG power plants (Balloki and Haveli Bahadur Shah) under the National Power Parks Management Company (NPPMC), Lakhra Coal Mines and Services International Hotel. Matters pertaining to the divestment of the government’s residual shares in Mari Petroleum Company also came under discussion.

With a view to facilitating simultaneous and smooth privatization of both RLNG plants, the CCOP gave its nod of approval for privatization of the NPPMCL. It also accorded an approval to divest residual government shares of 18.39pc in Mari Petroleum Company Ltd.