February 10, 2020: A delegation from Thailand Investment Company, Global Power Synergy Public Company Limited (GPSC), Thailand called on Federal Minister/Chairman Privatization Mohammedmian Soomro here in Islamabad today.
Ministry of Privatization prequalified 12 companies for the Privatization of two RLNG based power plants; HaveliBahadarsha and Balloki. The delegation was briefed about the power plants.
Global Power Synergy Public Company Limited (GPSC) is a flagship that operates the power generation business to support growth of the group as well as other industries.
GPSC is also involved in other businesses while seeking opportunities for investment in power projects, both domestic and overseas. It is also determined to develop technologies for improving energy storage in its attempt to become a leading power company that is internationally recognized for innovation and sustainability.
Federal Minister responded to various queries regarding the power plants privatization and over all power sector scenarios in Pakistan. A comprehensive presentation to that effect was also presented with a detail regarding regulatory framework, tariff structure and organizational functioning of entire power sector.
Mohammedmian Soomro said that as per the vision of Prime Minister of Pakistan, we encourage foreign investment and will do our best to facilitate the foreign investors in all possible manners by providing business friendly environment, tax concessions and conducive regulatory framework etc. The privatization of profitable power plants of HaveliBahadarsha and Balloki is expected during this fiscal year. The 12 prequalified companies have already started the due diligence of the plants.
Federal Minister said that to equip the investors with relevant information regarding the plants, the Virtual Data Room (VDR) was inaugurated in National Power Parks Management Company Limited (NPPMCL), the huge data base will provide all essential detail to the investors. It is pertinent to mention that the data room has 78k documents and 474 specialized folders.
Federal Minister explained that one window facilitation center is established for all independent power producers, the foreign investors are assisted in matters involving repatriation of dividends, taxation and other related subjects.
Mr.Chawalit Tippanich, CEO GPSC said that he was moved by the professionalism and efficiency of the Ministry and said that GPSC will have a secure investment in Pakistan in the coming years.