The government of Pakistan is ready to sell its Two Liquified Natural Gas (LNG) power plants for $1.5 billion. The LNG power plant was placed on the government’s active privatization list to raise $1.5 billion four years ago. The plant is planned to get out of the public domain.
The action was to sell these assets to Qatar to avoid a sovereign default. Moreover, the decision was taken two days after the government established a new cabinet committee to sell state assets quickly. The established committee would be able to sell the 2460 megawatt (MW) LNG-fired power stations to a foreign buyer.
According to various sources, a committee was established and the meeting was called by the Privatisation Commission Board (PCB) on Thursday. The objective was to take down the plants from the Privatisation program.
Moreover, Abid Hussain, the Minister for Privatization and the Chairman of the Board, was unable to attend the meeting physically and attended the meeting virtually.
Undoubtedly, the PCB issues press statements after board meetings. Whereas, this time, there was no statement, apparently the aim was to keep the matters confidential.
Though, the Privatization minster and the secretary of privatization did not respond to a request for comment.
As per the sources, the board suggested that power plants has to be removed from the Privatization list and sent to the Cabinet Committee on Privatization.
Indeed, these two were the most valuable assets and resources on the...
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