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CCOP allows financial advisor to proceed NPPMCL’s privatization

September 07, 2022: The Cabinet Committee on Privatization (CCOP) on Wednesday allowed the re-engagement of the Financial Advisor to proceed further with the privatization of National Power Parks Management Company Limited (NPPMCL), said a press statement issued today.

To recall, the Financial Advisory Services Agreement (FASA) for the privatization of NPPMCL was signed between Privatization Commission (PC) and M/s Credit Suisse, Singapore, and expired on April 29, 2022.

“The government is committed to inviting the much-needed private sector investment and expertise in the power sector. Based on the efforts of the federal government, the international investors are now looking for investment opportunities in Pakistan,” the statement added.

Keeping in view the recent developments and improved investors’ appetite and undertaking valuation exercises for the sale of two power plants, the CCOP allowed the re-engagement of the Financial Advisor to proceed further with the 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 about 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 the area and in consultation with the Pakistan Fruits & 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 for 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 center at Multan.

The meeting was chaired by Federal Minister for Finance and Revenue Mr. Miftah Ismail.

Federal Minister for Defence Khawaja Muhammad Asif, Federal Minister for Power Mr. Khurram Dastgir Khan, Federal Minister for Industries & Production Syed Murtaza Mehmud, 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. 

Press Release

Posted on:2022-09-08T00:49:24+05:00

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