ISLAMABAD: The Cabinet Comm­ittee on Privatisation (CCoP) here on Friday approved the transaction structure for divestment of National Power Construction Corporation Limited (NPCC).

The CCoP meeting was chaired by Minister for Finance, Ishaq Dar.

Earlier, the Privatisation Commission Board, in its meeting held on January 23, recommended the strategic sale of Government of Pakistan (GoP) shares in NPCC.

The recommendation was upheld by the CCoP after detailed deliberations.

Privatisation Commission Chairman Mohammad Zubair in his briefing said that the Financial Adviser (FA) — MCB Bank and United Bank Limited — was appointed for the optimal divestment of GoP shares in NPCC.

Based on its due diligence and market sounding exercise, the FA proposed strategic sale of a GoP shares in NPCC.

Federal ministers for Planning and Development Ahsan Iqbal, Commerce Khurram Dastagir, BoI Chairman Miftah Ismail and other senior officials also attended the meeting.

NPCC was established in 1974 by the Government of Pakistan under the Federal Ministry of Water and Power with the special objective of executing power engineering projects speedily and economically, not only at home but also in other friendly countries.

NPCC is fully equipped to undertake speedy execution of power projects on a turnkey basis.

Published in Dawn, February 14th, 2015

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