Haveli Bahadur Shah, Balloki power plants' privatisation 'halted'

The caretaker government has decided against privatising Haveli Bahadur Shah and Balloki RLNG plants on the International Monetary Fund’s (IMF) demand, ARY News reported on Thursday, citing sources. 

The Pakistan Democratic Movement (PDM) government had assured IMF about the privatisation of both power plants in the Stand By Agreement (SBA), earlier this year.

Sources within the power division have said the process of privatisation has been halted as it cannot be completed within the tenure of the caretaker government.

Failure to privatise the RLNG-run power plants of Haveli Bahadur Shah and Balloki might result in more ‘tough’ demands from the international lender, the sources said.

It is also revealed that the upcoming elected government of Pakistan will decide about the privatisation of both power plants.

Read more: IMF demands utility stores’ privatization across Pakistan

Prior to this, the International Monetary Fund (IMF) also demanded to privatise Utility Stores and state-owned entities.

In its recommendations, the International Monetary Fund proposed transferring Utility Stores to the private sector, which could lead to generating greater efficiency and profitability.

Furthermore, the international money lender suggested an increase in the budget allocated to the Benazir Income Support Programme (BISP), which aimed to provide additional financial support to vulnerable segments of the population.