Islamabad, September 07, 2022 (PPI-OT):Federal Minister for Finance and Revenue Mr. Miftah Ismail chaired a meeting of Cabinet Committee on Privatization (CCOP), today. Federal Minister for Defence Khawaja Muhammad Asif, Federal Minister for Power Mr. Khurram Dastgir Khan, Federal Minister for Industries and Production Syed Murtaza Mehmood, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Privatization/ Chairman Privatization Commission Mr. Abid Hussain Bhayo, Mr. Shahid Khaqan Abbasi MNA/ex-PM, Coordinator to the PM on Economy Mr. Bilal Azhar Kayani, federal secretaries and senior officials attended the meeting. The Privatization Commission tabled a summary on re-engagement of Financial Advisor for NPPMCL.
It was apprised that Financial Advisory Services Agreement (FASA) for the privatization of National Power Parks Management Company Limited (NPPMCL) was signed between PC and M/s Credit Suisse, Singapore and expired on April 29, 2022. The Government is committed to invite the much needed private sector investment and expertise in power sector. Based on the efforts of the Federal Government, the international investors are now looking for investment opportunities in Pakistan.
Keeping in view the recent developments and improved investors’ appetite and to undertake valuation exercise for the sale of two power plants, the CCoP allowed the re-engagement of Financial Advisor to proceed further for privatization of NPPMCL. The meeting also discussed the proposal for delisting of TCP plot measuring 15 acres adjacent to plot no. 42, Multan Industrial Estate, from privatization list.
The meeting was informed on the process of auction of the mentioned plot that was made in 2020, but no one participated in the process. In the meantime, TCP has initiated the process for establishment of cold storage facility on the said property as per the requirements of area and in consultation with Pakistan Fruits and Vegetable Exporters Association (PFVEA) on public private partnership mode and requested to retain the property.
The Committee approved the proposal and allowed 6 months’ time to TCP to work out the feasibility of the project and finalized details of the project proposed on PPP mode with PFVEA and other trade associations on the expo centre at Multan.
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