Third meeting of Standing Committee on Privatization held

Islamabad, March 28, 2019 (PPI-OT): Third meeting of the Standing Committee on Privatization was held on 28th March, 2019 at 11:00 a.m. in Committee Room, No.7, 4th Floor, Parliament House, Islamabad under the Chairmanship of Syed Mustafa Mahmud, MNA, for comprehensive briefing by Privatization Division.

The meeting commenced with the recitation from the Holy Quran. The Secretary, M/o Privatization/Commission briefed the Committee over the Privatization of two Power Plants and SME Bank. He informed the Committee that the Cabinet Committee on Privatization directed to immediately initiate the process of 1223 MW Balloki Power Plant and 1230 MW Haveli Bahadur Power Plant owned by National Power Management Company (Private ) Limited.

After adopting the prescribed procedure the Chairman Privatization Commission constituted the evaluation committee to evaluate the Expression of Interest (EoI) and technical and financial proposals submitted by the interested parties (IPs) for hiring of Financial Advisor for Privatization of NPPMCL. Afterwards the (05) short listed consortiums submitted their technical and financial proposals for the Privatization of above mentioned power plants. He apprised the Committee that an amount of 02 billion $ is expected through the Privatization of these two power plants.

He apprised the Committee that the SME Bank is a public limited company and currently Government of Pakistan holds its 93.88 % shares. The SME Bank has consistently been incurring losses resulting in a negative asset worth of Rs. 1.17 billion. After due process 03 interested parties formed consortiums and submitted their technical and financial proposals and the evaluation of IPs is likely to be completed in next few days. The Committee decided to invite Finance Division, State Bank of Pakistan and SME Bank to grab their opinion on the Privatization of SME Bank in its next meeting.

The meeting was attended by Mr. Umer Aslam Khan, Ms. Syma Nadeem, Ms. Seema Mohiuddin Jameeli, Mr. Jamshed Thomas, Ch. Muhammad Shahbaz Babar, Mr. Mohammad Pervaiz Malik, Mr. Khurram Shahzad, Mr. Faheem Khan, Sardar Riaz Mehmood Khan Mazari, Ms. Shandana Gulzar Khan, Mr. Mukhtar Ahmad Malik, Mr. Muhammad Khan Daha, Syed Hussain Tariq and Mr. Sikandar Ali Rahoupoto MNA’s beside senior officers from the Ministry of Privatization.

For more information, contact:
Secretary
National Assembly of Pakistan
Automation Centre,
National Assembly Secretariat,
Parliament House,
Islamabad – Pakistan
Tel: +92-51-9221082-83
Fax: +92-51-9221106
Email: assembly@na.gov.pk
Website: www.na.gov.pk