Thursday, October 6, 2022

Fed govt plans privatization of two power plants by April 2020


ISLAMABAD: Federal Minister and Privatization Commission Chairman Muhammad Mian Soomro on Monday said that they were moving towards the privatization of Balloki and Bahadur shah power plants located in the Punjab province by April this year, ARY NEWS reported.

The federal minister said this while chairing a meeting on privatization of power plants. It was attended by top officials from the privatization and finance ministry departments.

The chairman announced that initially the 1223 MW Balloki power plant in Chunian and  a RLNG-based Bahadur Shah power plant in Haveli area would be privatized.

“The prime minister is apprised of the developments made regarding the privatization of the two plants,” he said.

The federal minister said that it was their top priority to complete the privatization process by adopting fair procedures.

It is pertinent to mention here that the International Monetary Fund (IMF) delegation visiting Pakistan on Friday returned after a successful economic review of the country aimed at releasing the third tranche of the US$6 billion.

The talks between the two sides emphasized on expediting the privatization process.

On January 29, Special Assistant to Prime Minister on Information Dr Firdous Ashiq Awan said that the government will ensure transparency and accountability in the privatization process of public sector enterprises.

Read More: ‘Strengthening economy is core objective of privatization’: PM Imran

Addressing a joint press conference along with Mian Soomro, Dr. Firdous said that selling out the loss-making entities is the government’s top priority.

She maintained that the Mian Soomro is effectively moving  the reforms agenda forward. The special assistant was of the view that public money should not be spent on loss-making entities.

She said that the government is introducing reforms to made the state enterprises profitable.


Latest Posts