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ISLAMABAD: The Privatisation Commission (PC) Board has reviewed the planned privatisation of DISCOs, RLNG power plants, and decided to issue expressions of interest (EoIs) of three public-sector entities (PSEs) by mid-February 2021.

The board discussed in detail, the decision of the Cabinet Committee on Privatisation (CCoP) that the Power Division and the Ministry of Privatisation to expedite the privatisation/management contract of the DISCOS and submit an implementation plan, which was discussed by the PC Board meeting in detail.

Moreover, the Power Division has indicated that objectives for privatisation of the DISCOs will also be furnished to the PC shortly.

The board was given a presentation regarding the update in the transaction of the PSEs, which are to be privatised during this year.

It was briefed that the consensus of the stakeholders has been reached at regarding the take or pay issues in the privatisation of the National Power Parks Management Co Ltd (NPPMCL), and the concerned divisions will submit a summary to the CCoP accordingly.

Moreover, the board was briefed about the status of the SME bank, Services International Hotel (SIH), Jinnah Convention Center (JCC), and Heavy Electrical Complex (HEC).

The privatisation of these entities will be completed during the current financial year.

Federal Minister for Privatisation Mohammedmian Soomro chaired the PC Board meeting on Thursday.

The federal secretary privatisation, board members, and senior officials of the ministry attended the meeting.

The board was briefed about the latest progress made in the transactions of House Building Finance Corporation (HBFCL), JCC, and the First Women Bank (FWB), which are at advanced stages.

The transaction structures of said entities have already been approved by the CCoP/Cabinet.

The board, today, approved the committees for the pre-qualification of the potential bidders.

The EoIs for these entities are planned to be issued by mid-February 2021.

The financial advisors are presently engaged in soft marketing to attract the investors’ interest.

The PC board gave its consent regarding the pre-qualification committees of all three entities.

Moreover, the board was intimated that transactions of 23 government-owned properties will be completed by the end of the next month, and payments are being received.

Federal Minister and Chairman Privatisation Board Mohammedmian Soomro said that they were focused on achieving the desired targets within time.

He also said that through the privatisation of the PSEs, the government wants to bring efficiency in various sectors along with revenue generation for debt retirement and poverty alleviation.

Copyright Business Recorder, 2021