ISLAMABAD: The federal government is likely to fetch $3 billion mega foreign 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 a bundle package due to legal obstacles in the way of separating these plants from their parent firm.
The Cabinet Committee on Privatisation (CCOP) endorsed the Privatisation Commission’s recommendation to sell 1,230MW Haveli Bahadur Shah and 1,223MW Balloki power plants as a bundle deal. The government expects $2- $3 billion from the sale of these two plants.
Saudi Arabia has already expressed interest in acquiring these plants but only under a government-to-government deal. Finance Minister Asad Umar chaired the CCOP meeting.
The cabinet committee also decided to constitute another committee for resolution of the issue of nearly $1.5 billion in outstanding liabilities of K-Electric which was hampering the issuance of a national security clearance certificate to the Abraaj Group.