ISLAMABAD: The federal government is likely to fetch $3 billion megaforeign direct investment deals.
Government has decided on Wednesday to privatise two liquefied natural gas(LNG)-fired power plants, with a combined capacity of 2,453 megawatts, as abundle package due to legal obstacles in the way of separating these plantsfrom their parent firm.
The Cabinet Committee on Privatisation (CCOP) endorsed the PrivatisationCommission’s recommendation to sell 1,230MW Haveli Bahadur Shah and 1,223MWBalloki power plants as a bundle deal. The government expects $2- $3billion from the sale of these two plants.
Saudi Arabia has already expressed interest in acquiring these plants butonly under a government-to-government deal. Finance Minister Asad Umarchaired the CCOP meeting.
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The cabinet committee also decided to constitute another committee forresolution of the issue of nearly $1.5 billion in outstanding liabilitiesof K-Electric which was hampering the issuance of a national securityclearance certificate to the Abraaj Group.
