ISLAMABAD - The Board of Privatisation Commission has sought the details of two re-gasified liquefied natural gas (RLNG) power plants, which were recently approved for privatisation by the Cabinet committee.

The Cabinet Committee on Privatization (CCoP) had recently directed Privatisation Division to immediately initiate the process for privatisation of 1233MW Balloki Power Plant and 1230MW Haveli Bahadar and complete it by June 1, 2019. The CCoP had also directed the Privatisation Division to obtain legal opinion of the Law and Justice Division on whether or not approval of the CCI was required for privatisation of the RLNG plants.

A meeting of the Board of Privatisation Commission (PC) under the chair of Chairman Privatisation Commission, Muhammad Mian Somroo has directed the management of National Power Parks Company Limited to submit a working paper on feasibility for privatisation of two power plants as a bundle package or as separate entities. It has also directed to provide timelines, justifications and any issues ancillary to it for consideration of the Board and CCoP.

The Board of the Privatization Commission has also discussed matters related to implementation of new privatisation program. Moreover, the Board directed to initiate the process for hiring of financial advisors for other PSEs in the Active Privatisation Program as approved by the Cabinet. The Evaluation Committees for the evaluation of proposals for the said privatisation transactions were also constituted. The CCoP had recently approved to privatize SME Bank Ltd, First Women Bank Ltd, Jinnah Convention Centre, Islamabad, Lakhra Coal Development Company and Services International Hotel, Lahore. The Board also constituted a committee for resolution of the issue of contingent payments in case of Financial Advisory Services Agreements concerning privatisation transactions initiated during the tenure of previous government. The Board also approved to initiate the process on hiring of human resource and further directed to review Human Resource Regulations in order to streamline the same for the betterment of organization and to remove anomalies, if any.