Implementation plan sought in a week: PC asked to accelerate privatisation process
ISLAMABAD: The Cabinet Committee on Privatisation (CCoP) has directed the Privatisation Commission to accelerate the privatisation/management contracts of all entities, and present implementation plan before the CCoP within a week to proceed further.
Minister for Finance and Revenue Dr Abdul Hafeez Sheikh stated this, while chairing a meeting of the CCoP on Monday.
The Privatisation Commission presented a summary regarding privatisation status of National Power Parks Management Company Limited (NPPMCL) before the CCoP. Different scenarios were presented before the CCoP for changing the capital structure, debt-equity ratio of the NPPMCL, which is managing two RLNG-based power plants - 1,223MW Balloki and 1,230MW Haveli Bahadur.
After detailed discussion, the chair directed the Privatisation Commission to accelerate the privatisation/management contracts of all entities and implementation plan may be presented before the CCoP within a week to proceed further.
The Finance Minister also directed the sub-committee constituted for the NPPMCL to finalise its recommendations and place before the CCoP accordingly.
The Finance Division tabled a summary regarding shareholding structure of Pakistan Credit Guarantee Company (PCGC).
The ECC had already endorsed the proposal dated December 24, 2020 regarding change in the shareholding structure of the PCGC.
The subject matter was placed before the CCoP for further deliberation prior to ratification by the Cabinet.
After due deliberation, the chair directed the Law Division to provide its input in consultation with Finance, Economic Affairs Division (EAD) and the State Bank of Pakistan for consideration in the next meeting.
An official said that a meeting at Privatisation Commission held discussion on privatisation status of entities included in the government's active list.
The meeting discussed about two RLNG-based power plants of the National Power Parks Management Company Ltd (NPPMCL).
Copyright Business Recorder, 2021
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