ISLAMABAD: The Privatisation Commission on Tuesday reviewed the progress made in negotiations with bidders on the Sale and Purchase Agreement (SPA) for Haveli Bahadur Shah and Balloki power plants.

Minister for Privatisation Muhammadmian Soomro chaired a meeting with the Financial Advisory Consortium (FAC) on the privatisation of National Power Parks Management Company Ltd (NPPMCL). He reiterated the importance of completing the transaction on a priority basis to generate non-tax revenue for the country.

Secretary Privatisation Rizwan Malik, Chairman Nepra Tauseef Farooqi and CEO NPPMCL Dhanpat Kotak attended the meeting via video link. The status of other ongoing transactions was also discussed.

The FAC briefed the Privatisation Commission team on the progress made in negotiations with the various bidders in respect of the SPA and the project documents for the transaction.

The FAC said that comments of potential bidders were 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 June 6.

A complete update on the timeline considering the Covid-19 pandemic was also given.

The team also discussed comments from various bidders on SPA and other project documents and discussed related transaction matters.

Published in Dawn, June 3rd, 2020