ISLAMABAD – The Cabinet Committee on Privatization (CCOP) on Wednesday cleared the re-engagement of the financial adviser to pursue the privatization of National Power Parks Management Company Limited (NPPMCL)
Federal Finance and Revenue Minister Miftah Ismail chaired a meeting of the Cabinet Committee on Privatization (CCOP). The Privatization Commission has filed a summary on the re-engagement of NPPMCL’s financial advisor. It has been informed that the Financial Advisory Services Agreement (FASA) for the privatization of National Power Parks Management Company Limited (NPPMCL) was signed between PC and M/s Credit Suisse, Singapore and expired on April 29, 2022. The government is committed to inviting much-needed private sector investment and expertise into the power sector. Based on the efforts of the federal government, international investors are now looking for investment opportunities in Pakistan. In view of recent developments and improving investor appetite and to undertake a valuation exercise for the sale of two power plants, the CCoP permitted the re-engagement of the financial advisor to pursue the privatization of NPPMCL.
The meeting also discussed the proposed delisting of the 15-acre TCP parcel adjacent to parcel no. 42, Multan Industrial Estate, from the privatization list. The meeting was informed about the auction process of the mentioned land which was done in 2020, but no one participated in the process. In the meantime, TCP has initiated the process of establishing a cold store on the said property in accordance with the requirements of the zone and in consultation with the Pakistan Fruit and Vegetable Exporters Association (PFVEA) on partnership mode. public-private and asked to keep the property. The Committee approved the proposal and granted TCP 6 months time to determine the feasibility of the project and finalize the details of the proposed PPP project with PFVEA and other trade associations on the Multan Exhibition Centre.
Federal Minister of Defense Khawaja Muhammad Asif, Federal Minister of Energy Khurram Dastgir Khan, Federal Minister of Industry and Production Syed Murtaza Mehmud, Federal Minister of Commerce Syed Naveed Qamar, Federal Minister of Privatization/President of the Privatization Commission Abid Hussain Bhayo, Shahid Khaqan Abbasi, MP/Ex-PM, PM Coordinator on Economy, Bilal Azhar Kayani, Federal Secretaries and Senior Officials attended the meeting.