ISLAMABAD: The Cabinet Committee on Privatisation (CCoP) decided on Wednesday to re-engage the financial advisory services of Credit Suisse of Singapore to undertake the valuation exercise for the sale of Haveli Bahadur Shah and Balloki power plants.

The financial advisory services agreement for the privatisation of National Power Parks Management Company (NPPMCL) was signed between the Privatisation Commission and Credit Suisse of Singapore and it expired in April this year.

A press release issued by the finance ministry said after the CCoP meeting that keeping in view the recent developments and improved appetite of investors and to undertake valuation exercise for the sale of 1,230MW combined cycle Haveli Bahadur Shah power plant and 1,223MW Balloki combined-cycle gas-fired plant, the cabinet committee allowed re-engagement of the financial adviser to proceed further for privatisation of NPPMCL.

The Board of Privatisation Commission on Monday unanimously approved the proposal for expediting the transaction-related matters of the NPPMCL.

The CCoP meeting chaired by Finance Minister Miftah Ismail was told that the government is committed to inviting the much-needed private sector investment and expertise in the power sector. Based on the efforts of the federal government, international investors are now looking for investment opportunities in Pakistan.

Published in Dawn, September 8th, 2022