ISLAMABAD: The Board of Privatisation Commission (PC) on Tuesday reviewed regulations to make the upcoming transactions of two power plants and a bank more transparent and business friendly.

The Cabinet Committee on Privatisation has already approved sell-off of SME Bank, 1,230MW Haveli Bahadur and 1,233MW Balloki power plants.

Sources privy to the commission told Dawn that the regulations have been updated with a view to the intention of the government to shorten the process and complete the transactions within six to eight months.

The board meeting chaired by Minister for Privatisation, Mohammadmian Soomro decided to advertise the hiring of financial advisers for the divestment of three state-owned enterprises (SOEs) this week. It is learnt that the management of National Power Parks Company Ltd has submitted a working paper on the feasibility for privatisation of the two power plants as a bundle package or as separate entities along with timeliness and justifications.

The board also discussed the progress on the resolution of the issue of contingent payments concerning the privatisation transactions initiated during the tenures of previous governments.

The committee formed for the resolution of the issue of contingent payments has been asked to submit its terms of references (TORs) in two weeks.

Published in Dawn, December 19th, 2018