The committee formed under Dr Ikhtiar Baig, Member Sindh Privatisation Committee, opened the sealed bids/financial proposals for hiring of financial advisor on privatisation of Lakhra Power Generation Company here on Wednesday.
The bids were opened in the presence of participating parties representatives and committee members.
It may be mentioned here that issue of privatisation of Lakhra Power Plant was assigned to government of Sindh on June 12, 2001.
In the first meeting of the 'Task Force on Thar Coal', held under the Chairmanship of President of Pakistan, it was, inter-alia, decided that government of Sindh should take necessary action to privatise Lakhra coal field and power plant in consultation with Wapda and tariff issue should be properly resolved.
Sindh Privatisation Commission was assigned the task, which was constituted under an Ordinance 2001 to implement the privatisation policy of the government.
Pursuant to that the SPC invited expression of interest (EoI) for appointment of financial advisor for privatisation of Lakhra Power Plant and Lakhra Coal Mines Company Limited.
The parties who showed interest included 1. Princewaterhouse Coopers Project Advisor Ltd, 2. K&M Engineering and Consulting Corporation, 3. BMA Capital Management Ltd and 4. Ferguson Association (Pvt) Ltd.
The bids for appointment of financial advisor received by the commission were valid up to May 30, 2003.
In the meeting of Sindh Privatisation Commission and Sindh Cabinet Committee on Privatisation, which was held in February, it was decided to ask the parties to revalidate their proposals.
Moreover a committee was constituted with Dr Mirza Ikhtiar Baig as its Chairman to examine and evaluate the bids. Other members of the committee included Shunaid Qureshi, Member, SPC, Secretary, Finance & Co-operation, Secretary, SPC, Anwarul-Haq, representative Repco.
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