ISLAMABAD: The Privatization Division has convened a meeting to sort out problems in tariff determination of the National Power Management Company Limited (NPPMCL) on June 6th causing delay in privatisation of two RLNG power plants.
A meeting with Financial Advisory Consortium (FAC) regarding Privatization of NPPMCL was held under the chairmanship of Federal Minister for Privatization Mohammedmian Soomro.
Secretary Privatization, chairman Nepra and CEO NPPMCL attended the meeting via video link.
The status of other ongoing transactions was also discussed in the subject meeting.
The FAC briefed the PC team on the progress made in negotiations with the various bidders in respect of the Sale Purchase Agreement (SPA) and the project documents for the transaction.
The FAC told that comments of the potential bidders have been incorporated in the SPA regarding implications of tariff determination of the company.
Further deliberations to that effect will be made in the meeting to be held in Nepra on 6th June.
A complete update on the timeline considering the Covid- 19 pandemic was also given and the federal minister mentioned that since the world as well as our country is emerging from the lockdown, the privatisation completion timeline and milestones had to be met with speed and efficiency.
The privatization team also discussed the comments from the various bidders on the sale purchase agreement and other project documents, and discussed related transaction matters. The federal minister reiterated the importance of completing the transaction on a priority basis to generate non-tax revenues for the country.