Weekly privatisation review meeting held

ISLAMABAD: The Privatisation Commission on Thursday said hiring of financial advisors to sale remaining properties has been initiated as the expression of interest (EOIs) to that effect had already been published.

Mohammedmian Soomro, minister for Privatisation chaired the weekly privatisation review meeting, focusing on the progress so far made in the transaction of various entities to be privatized.

The EoI for the open bidding/auction of Services International Hotel Lahore are going to be invited in the first week of August, 2021 while the transaction is likely to be completed in the first week of September.

Moreover, the transaction of National Power Parks Management Company Limited (NPPMCL) is also pursued and a series of meetings with stakeholders are held on almost daily basis to resolve the debt and equity matters.

"For that purpose, a plan of action is already agreed upon regarding debt-refinancing for the plant from local commercial banks."

A transaction committee already agreed upon the scheme for local financing ahead of equity process in the transaction of the NPPMCL.

NPPMCL sale is the first of its kind transaction, which involves re-financing of government excess equity and loan besides equity sale.

The statement said the transaction of Jinnah Convention center is underway, the pre-qualification of bidders is completed and PC is moving ahead and also meeting with CDA, completion of this transaction is expected by the end of the current year.

The meeting also reviewed the difficulties being faced in the privatisation process of SME, HBFCL and First Women Bank Limited.