Islamabad: The government stands to add USD 2 billion to the national exchequer by privatising two power plants and selling them off, according to a news source. The National Assembly’s Standing Committee on Privatisation was recently informed that the 1,223 MW Balloki power plant and the 1,230 MW Haveli Bahadur Shah power plant are to be privatised to attain this amount.
Secretary Privatisation Rizwan Malik informed the committee that an evaluation committee had been formed in the Privatisation Commission. It would evaluate expressions of interest, along with both technical and financial proposals for the hiring of financial advisers.
The Cabinet Committee of Privatisation approved initiating the hiring of financial advisers for this purpose. Currently, both power plants belong to the National Power Management Company.
Official shortlisted bids from five companies, as per the evaluation process. From these, they approved a bid from a consortium of Credit-Suisse, Elixir Securities, EY Ford Rhodes, Lummus Consultants International, Akhund Forbes Hadi, and Lathman & Watkins.
