Credit Suisse-led consortium approved as financial consultants for RLNG power plants privatization

ISLAMABAD: The government has accorded approval to a consortium led by Credit Suisse to act as financial consultants for the privatization of the RLNG power plants.

The approval was given at a meeting of the Board of Privatization Commission chaired by Federal Minister of Aviation and Privatization Muhammad Mian Soomro.

The transparent and appropriately appraised value of privatization of state owned enterprises is one of the major priorities of the current government and shall be successfully undertaken with due regard to every possible minutiae, Soomro said.

The meeting was attended by Secretary Privatization Rizwan Malik and the board members of the Privatization Commission.

A number of essential issues were on the agenda. The Minister was briefed about the progress made in the Privatization process of a number of state owned enterprises.

These enterprises include Mari Petroleum, SME Bank and First Woman’s Bank. Other state owned entities which are to be privatized on priority basis were also discussed. These include Services Hotel and Convention Centre, Islamabad.

The Minister was apprised of the current status of the process for each entity and the Minister ordered that it should be ensured that every possible step is taken to ensure a transparent and financially feasible privatization.

The meeting also confirmed the minutes of the Third Meeting (03/2018) of Privatization Commission Board which was held on 18th December, 2018 and also reviewed the status of decisions of the Third Meeting of the PC Board. The appointments of Consultants of the Privatization Commission were also discussed.

It was also decided in the meeting that a steering committee headed by the Minister for Privatization, including relevant stakeholders shall over see the implementation process of privatization.

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