The Privatisation Commission was briefed on privatisation of National Power Parks Company Limited (NPPC) in its steering/transaction meeting held here on Monday. Federal Minister for Privatisation Mohammed Mian Soomro chaired the meeting of the Steering/Transaction Committee for Privatisation of the NPPC. The financial adviser briefed the committee on due diligence reports and preliminary discussion on the transaction structure.
The federal government is expecting to receive $2 billion through the privatisation of the 1,230MW Haveli Bahadur Power Plant and the 1,223MW Balloki Power Plant owned by the NPPC. "The government has already initiated the process of privatisation of two power plants, which will be completed in the current fiscal year," said an official of the Privatisation Commission.
On March 20, 2019, the Privatisation Commission Board after thorough deliberations approved the appointment of consortium of Credit Suisse (CS) as FA. After five months, the FA briefed the transaction committee on proposal sale of two RLNG power plants.
The steering meeting was held following the directive of Cabinet Committee on Privatisation (CCoP) held on August 8, 2019. The CCOP directed the Privatisation Commission to expedite the process of privatisation of public sector enterprises approved for privatisation and further advised to hire financial advisers for at least 10 PSEs before the next CCoP meeting. The Commission also discussed the status of other public sector entities (PSEs) in the meeting.