ISLAMABAD: The Privatisation Commission presented a comprehensive representation on the debt re-financing of the National Power Parks Management Company Limited (NPPMCL) to heads of commercial banks in Karachi on Friday.

According to the privatisation commission, a thorough discussion was held on terms and conditions of the re-financing process. There were different suggestions from the banking sector for moving towards debt re-financing.

Director-General of Debt at the finance ministry was of the view that all banks should individually submit their bids.

However, presidents of National Bank of Pakistan and HBL proposed that invitation of bids should come from a consortium. After thorough discussion, it was agreed that suggestions of the banks would be considered while preparing the ‘Request for Proposal’.

Minister for Privatisation Mohammadmian Soomro said that the privatisation of NPPMCL was a large transaction and the privatisation commission was coordinating with all stakeholders to fulfil the national cause.

Senior officials of the Privatization Commission, finance ministry and State Bank of Pakistan and heads of commercial banks attended the meeting.

The National Power Parks Management Company, a state-owned enterprise, owns and operates two RLNG-based combined cycle H9 technology power plants in Haveli Bahadur Shah in Jhang district and Balloki in Kasur district together with the HBS power plant.

The HBS power plant achieved commercial operations in May 2018 with a gross installed capacity of 1230MW. The Balloki power plant achieved commercial operations in July 2018 with a gross installed capacity of 1223MW.

The government has invited investors for acquisition of up to 100 per cent of the equity stake with management control in either NPPMCL, acquiring both plants by the same investor, or the two companies, each of which will own one of the power plants.

Published in Dawn, September 25th, 2021