ISLAMABAD: The Cabinet Committee on Privatisation (CCOP) has allowed the re-engagement of a financial advisor to further the process of the National Power Parks Management Company Limited’s (NPPMCL) privitisation.
According to the Finance Ministry, Federal Minister for Finance and Revenue Miftah Ismail chaired a meeting of Cabinet Committee on Privatisation (CCOP) here on Tuesday where the Privatization Commission tabled a summary regarding the matter.
The meeting was apprised about the Financial Advisory Services Agreement (FASA) for the privatisation of NPPMCL signed between PC and Credit Suisse, Singapore, which expired on April 29, 2022.
Expressing the government’s resolve to invite private sector investment and expertise in the power sector, and taking stock of recent developments, an improved investors’ appetite and to undertake the valuation exercise for the sale of two power plants, the CCoP directed relevant authorities to seek the services of a financial advisor at the earliest.
Furthermore, the meeting also discussed the proposal for delisting a 15 acre TCP plot in the Multan Industrial Estate from the privatisation list. It was informed that an auction for the plot held in 2020 had zero participation. Meanwhile, TCP initiated the process for establishing a cold storage facility on the plot in consultation with the Pakistan Fruits & Vegetable Exporters Association (PFVEA) under public private partnership (PPP) mode and has now requested to retain the property.
The committee granted TCP a six month deadline to work out the project’s feasibility and finalise details of the proposal under PPP with PFVEA and other trade associations on the expo centre at Multan.
