The PC Board directed the management of the National Power Parks Management Company Limited to submit a working paper on feasibility for privatisation of two power plants as a bundle package or as separate entities along with timelines, justifications and any issues ancillary to it for consideration of the Board and Cabinet Committee on Privatisation (CCoP).
The media reports suggested that Saudi Arabia expressed its willingness to purchase the RLNG projects at original cost. Minister Power Division Omar Ayub reportedly said that the government is evaluating the interest of Saudi delegation in the RLNG projects. The federal government has to consider the methodology and legal mechanism for the sale, he added.
The Board further directed to initiate the process for hiring of financial advisors (FAs) for other public sector entities (PSEs) in the active privatisation programme as approved by the cabinet. The evaluation committees for the evaluation of proposals for the said privatisation transactions was also constituted.
The Board also constituted a committee for resolution of the issue of contingent payments in case of financial advisory services agreements concerning privatisation transactions initiated during the tenure of previous government.
The Board also approved to initiate the process to hire human resource and further directed to review the human resource regulations in order to streamline the same for the betterment of organisation as well as for removing the anomalies, if any.