ISLAMABAD           -         The federal government has decided to complete the privatisation of two power plants located at Balloki and Haveli Bahadur Shah by April this year, which would generate a minimum of Rs300 billion or $1.5 billion.

Federal Minister for Privatization Mohammad Mian Soomro emphasized that we are leaving no stone unturned towards the completion of privatization of these power plants. The bidding will start around mid of April this year.

He made these remarks in 8th meeting of the Transaction Committee for privatisation of National Power Parks Management Company Limited (NPPMCL), jointly chaired by the Minister for Privatisation and Special Assistant to Prime Minister on Petroleum, Nadeem Baber held on Monday.

Chairman NEPRA, CEO, NPPMCL, Federal Secretary Privatization, PC board members, representatives from Power Division, Petroleum Division: PSO, SNGPL, SSGC financial advisors and PC team attended the meeting.

The meeting was held to discuss the progress in relation to a range of matters in connection with proposed privatization of two power plants: Haveli Bahadarshah and Balloki, after 12 investors were prequalified for the final bidding process.

The federal minister added that PM is apprised regularly to that effect, and we are in liaison with concerned Ministries/ Divisions to discuss the issues and their resolution so that the subject transaction could be completed within stipulated time in an organized manner. Chairman NEPRA reported a significant progress in relation to matters within his purview.

Special Assistant to Prime Minister (SAPM) on Petroleum Nadeems said that Ministry of Energy and Petroleum has been fully cooperating and will be persistent in its support to resolve relevant matters in order to expedite the process.

Moreover, it was told in the meeting that with the inauguration of Virtual Data Room (VDR), in National Power Parks Management Company Limited (NPPMCL) most of the information for the potential investors has been uploaded after verification by NPPMCL team. Mohammed Mian Soomro said that we are moving closer towards privatization of these RLNG power plants, and all the stakeholders are committed to proceed in line with the decision of Cabinet Committee on Privatization (CCOP) and directions of Prime Minister.