RLNG plant privatisation delayed

March 28, 2020

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ISLAMABAD: Prospective buyers of the two RLNG-based power plants have requested extension in timelines for submitting bids as the country battles Covid-19, the Privatisation Commission (PC) said on Friday.

The requests are being analysed and considered in view of the rapidly changing situation, the PC statement added.

Prospective investors and international financial institutions have indicated concerns in the wake of declining global markets, the bidding timelines have become unpredictable, the commission said.

“Most of our transactions are at an advanced stage and can be completed on time provided the national and international markets quickly recover from the current situation and overcome the coronavirus-related obstacles,” the statement further said.

The commission has planned a series of video conferences with prospective investors in the coming week despite difficulties in accessing all stakeholders.

An important meeting of the National Electric Power Regulatory Authority (Nepra) was held on Friday. The meeting, led by Nepra chairman Tauseef Ahmed, discussed tariff determination of regasified liquefied natural gas (RLNG) plants. The decision is likely to be announced early next week.

Meanwhile, the commission has postponed the final auction of 28 federal government-owned properties due to restrictions on gatherings and non-availability of auction houses and related facilities.

Of the 28 properties, 17 properties are owned by the Earthquake Rehabilitation and Reconstruction Authority (ERRA) which was created in the aftermath of October 2005 massive earthquake. These properties are located in Islamabad and Lahore.

Other properties include Wapda leftover building in Lahore, Research and Training Centre spreading over 8 kanals in Gujranwala and owned by the Ministry of Textile, land and building owned by FBR in Faisalabad, 15 acres land owned by the Trading Corporation of Pakistan in Multan, 209 kanals of land owned by the Civil Aviation Authority in Burewala, Rahim Yar Khan and Sakrand, two Wapda rest houses in Swat and Mansehra, and 42 kanals of land owned by the Ministry of Industries and Production at Mall Road, Lahore.

Published in Dawn, March 28th, 2020