ISLAMABAD: The government is considering fetching $600 million by selling out two RLNG-based power plants — Haveli Bahadur Shah and Balloki.
Minister for Finance Ishaq Dar on Monday chaired an in-house meeting to explore different options for selling out two RLNG based Power Plants to Qatar or any other bilateral county on G2G basis.
“The finance minister has instructed the authorities concerned to come up with fresh evaluation of two RLNG power plants so that the government could take an ultimate decision,” top official sources confirmed while talking to The News here on Monday.
These two power plants were constructed with 70:30 ratio of debt and equity respectively and the government was evaluating its exact financial price to sell out these plants. If the cost of the power plants was assessed at $2 billion, the government might opt to sell its equity shares to fetch $600 million.
The potential investor might not show interest to buy debt related shares in procuring RLNG plants. The government had been making all out efforts to undertake the transaction for last several years but it remained unsuccessful owing to various reasons.
The government had utilized $1.4 billion out of $2 billion financing from a friend country — probably Saudi Arabia — to construct these two RLNG power plants under the aegis of Pakistan Development Fund Limited (PDFL) for generating 1230-megawatt electricity.
Qatar Investment Authority had shown interest to procure these two RLNG plants through G2G deal and now the government was engaged to prepare different viable options to accomplish the deal. The government is exploring its various options at a time when the IMF is staying in the town for gauging the economic health. However, it is finding hard to bring stakes of foreign investors in Pakistan amid crippling economy of the country.
The foreign exchange reserves held by the SBP stood at slightly over $3 billion and the government is preparing a stage to sell out these RLNG based power plants as early as possible.
FIA prosecutor Hamid Ali Shah argued that the PTI founder had failed to return the cipher copy to the Ministry of...
Musk appeared to have made progress on his goals during the two-day trip
Irfan Qadir was also appointed as Special Assistant to then Prime Minister Muhammad Shehbaz Sharif in October, 2022...
The electoral body took the step for restoration of Noon’s victory notification in compliance with the orders of...
The water expert expressed dismay on the remarks made by Federal Law Minister Azam Tarar on April 22 in the National...
The primary balance surplus continues to improve during the first eight months of FY2024