close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
February 18, 2020

12 firms shortlisted to bid for RLNG power plants

Business

February 18, 2020

ISLAMABAD: Government has shortlisted 12 investors for the privatisation of 2,400 megawatts of RLNG-run power plants with the bidding scheduled to kick off in the mid April this year, privatisation minister on Monday.

Privatisation Minister Mohammedmian Soomro said the government is moving closer towards privatisation of the two re-gasified liquefied natural gas (RLNG) power plants. “We are leaving no stone unturned towards the completion of privatisation of these power plants… the bidding will start around mid of April this year,” Soomro said.

The minister was addressing the 8th meeting of the transaction committee for privatisation of National Power Parks Management Company Limited (NPPMCL). The meeting was held to discuss the progress in relation to a range of matters in connection with proposed privatisation of the plants. NPPMCL, owned by the ministry of water and power, is the operator of the power plants.

In December 2018, the government approved privatisation of the two RLNG power plants, which include the 1,223 megawatts (MW) of combined cycle power plant in Balloki, Kasur and another of 1,230MW in Haveli Bahadur Shah in Jhang.

The sell-off was previously estimated to fetch $2 billion for the government saddled with a task to mobilise revenue.

The privatisation minister said all the stakeholders are committed to proceed in line with the decision of cabinet committee on privatisation and directions of the Prime Minister Imran Khan.

“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 organised manner,” he said.

National Electric Power Regulatory Authority Chairman Tauseef Farooqi said the authority made a ‘significant progress in relation to privatisation of the power plants.

Special Assistant to the Prime Minister on Petroleum Nadeem Babar said the ministry of energy and petroleum has been cooperating with all the departments to complete the task on time.

“It (the ministry) will be persistent in its support to resolve relevant matters in order to expedite the process,” Babar said. The meeting was further told that with the inauguration of virtual data room in NPPMCL most of the information for the potential investors has been uploaded after verification by NPPMCL team. Privatisation Commission Chairman, NPPMCL CEO, secretaries and other officials attended the meeting.