Islamabad: The Qatar Investment Authority (QIA) through its advisor JP Morgan showed their intent to invest in two Regasified Liquefied Natural Gas (RLNG) power projects of Haveli Bahadur Shah and Balloki, news sources reported. In this regard, a high powered delegation met with the Federal Minister for Privatization Mohammad Mian Soomro.
As per the reports, the delegate discussed QIA’s interest in the operations of National Power Parks Management Company (NPPMCL)-owned and operated power plants that run on the RLNG-based combined cycle H9 technology. The minister informed the delegates of the steps being taken by the government for the circular debt relief and the involvement of local banks for the debt servicing.
He also informed the delegate that the council of common interest (CCI) has approved the privatization plan while the project will be sent to the Executive Committee of the National Economic Council (ECNEC) for the final approval and costing. In addition, the commission is working with the Punjab government on land use issues in order to make the project more appealing to investors.
It is worth noting that the government has approved the commencement of the privatization process for loss-making government enterprises. For the privatization of RLNG plants, the government received 12 pre-qualification offers from various private entities in April 2020. However, the looming COVID-19 crisis forced the government to put the project on the backburner.
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