AVN 50.85 Increased By ▲ 1.79 (3.65%)
BAFL 28.61 Increased By ▲ 0.06 (0.21%)
BOP 3.60 Decreased By ▼ -0.03 (-0.83%)
CNERGY 3.24 Decreased By ▼ -0.03 (-0.92%)
DFML 10.73 Decreased By ▼ -0.07 (-0.65%)
DGKC 52.59 Increased By ▲ 0.61 (1.17%)
EPCL 44.00 Increased By ▲ 0.40 (0.92%)
FCCL 12.45 Increased By ▲ 0.03 (0.24%)
FFL 6.20 Increased By ▲ 0.04 (0.65%)
FLYNG 5.96 Decreased By ▼ -0.03 (-0.5%)
GGL 10.30 Increased By ▲ 0.04 (0.39%)
HUBC 68.59 Increased By ▲ 0.09 (0.13%)
HUMNL 5.83 Decreased By ▼ -0.01 (-0.17%)
KAPCO 22.58 Decreased By ▼ -0.07 (-0.31%)
KEL 1.85 Increased By ▲ 0.02 (1.09%)
LOTCHEM 29.52 Increased By ▲ 0.62 (2.15%)
MLCF 28.57 Decreased By ▼ -0.13 (-0.45%)
NETSOL 80.87 Increased By ▲ 3.97 (5.16%)
OGDC 79.83 Increased By ▲ 1.43 (1.82%)
PAEL 9.71 Increased By ▲ 0.04 (0.41%)
PIBTL 4.28 Increased By ▲ 0.07 (1.66%)
PPL 61.58 Increased By ▲ 1.09 (1.8%)
PRL 14.45 Decreased By ▼ -0.03 (-0.21%)
SILK 1.11 Increased By ▲ 0.05 (4.72%)
SNGP 42.97 Increased By ▲ 0.47 (1.11%)
TELE 7.25 Increased By ▲ 0.15 (2.11%)
TPLP 13.32 Increased By ▲ 0.55 (4.31%)
TRG 98.93 Increased By ▲ 2.80 (2.91%)
UNITY 15.50 Increased By ▲ 0.27 (1.77%)
WTL 1.19 Increased By ▲ 0.01 (0.85%)
BR100 4,190 Increased By 29.8 (0.72%)
BR30 14,589 Increased By 182.3 (1.27%)
KSE100 41,904 Increased By 217.8 (0.52%)
KSE30 14,804 Increased By 61.5 (0.42%)

ISLAMABAD: The Board of Investment (BoI) is reportedly engaging Abu Dhabi Development Holding Company (ADQ) and International Holdings Company (IHC) to ascertain their interest in acquiring RLNG power plants owned by National Power Parks Management Company - Private Limited (NPPMCL), well-informed sources told Business Recorder.

The NPPMCL was put on active privatisation list on October 31, 2018 and the due diligence for the transaction was timely completed by Financial Advisory Consortium (N/s Credit Suisse) in Sept 2019. The Road Shows were also held at UAE and Qatar in December 2020. The privatization process was interrupted by COVID- 19 outbreak (in 2020 & 2021) and due to the encumbrances associated with the entity.

Presently efforts are underway to ascertain interest from potential investors globally. To facilitate investors and for expeditious processing of the transaction, Government has also enacted Inter-Governmental Commercial Transactions Act 2022, and meetings have been held with potential international investors.

Import of spare parts, consumable items: NPPMCL seeks PPIB’s help for LCs opening

Prime Minister, in the meeting held on February8, 2023 has also directed Power Division to follow up with TAQA-UAE.

Meanwhile, the BoI in its correspondence of March 6, 2023 emphasized that ADQ and IHC will be engaged to assess their interest in acquiring NPPMCL.

Privatisation Commission in a letter to BoI claimed that it is making all out efforts for sale of NPPMCL, adding that PC also looks forward to BoI to facilitate as per its mandate in the maximum outreach to potential investors. As per the advice from BoI, PC will be available for conducting investor conference/road show along with Power Division at the destination(s) recommended by Board of Revenue.

According to sources, previous efforts of Privatisation Commission to sell two RLNG-fired power plants to Qatar or Saudi Arabia have not succeeded, after which more focus is being given on UAE companies.

Copyright Business Recorder, 2023

Comments

1000 characters

RLNG power plants owned by NPPMCL: BoI engaging ADQ and IHC to ascertain their interest

Post-budget press conference: Dar looks to pacify concerns

Sindh govt announces up to 35% raise in salaries, 17.5% hike in pension amounts

Met office warns Cyclone Biparjoy now 910km away from Karachi

Fitch does not ‘expect large further devaluation of Pakistani rupee’: report

Hina Rabbani Khar concludes two-day visit to Denmark, Finland

Dubai ranks third among top global cities, ahead of New York, London and Paris

Lahore ATC grants police two-day physical remand of Yasmin Rashid in Askari Tower attack case

Sri Lanka lifts import limits on 286 items as crisis eases

Egypt’s annual headline inflation rate speeds up to 32.7% in May

Zelensky says counteroffensive actions ‘taking place’