CCoP omits “Mari Petroleum Company” from privatization list



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The Cabinet Committee on Privatization (CCoP) on Friday discussed the Pakistani government’s proposed divestiture of shares in Mari Petroleum Company Limited and decided to omit Mari Petroleum Company Limited from the list of privatizations.

The meeting was held here under the chairmanship of Federal Minister of Finance and Revenue, Shaukat Tarin.

The CCoP discussed the proposal submitted by the Privatization Division for debt recapitalization and refinancing of excess GoP equity and loan from Pakistan Development Fund Limited (PDFL) through commercial loans from the National Power Park Management Company Limited (NPPMCL).

The committee approved the proposals that the NPPMCL initiate a process of recapitalization and debt refinancing in accordance with the Company Law of 2017 and all stakeholders of the Chinese government to jointly support the NPPMCL in the implementation and l ” execution of the debt recapitalization and refinancing process with local banks. The meeting also ordered to revise the interest rate of K +1.80% by way of tender.

The Cabinet Committee on Privatization also discussed the summary of the privatization of the Guddu Power Plant and the Nandipur Power Plant and requested the Ministry of Energy to obtain the decision of the CCoE for the privatization of the two plants. electrical above.

The privatization divisions and the Ministry of Energy have also been tasked with preparing and sharing the roadmap for the valuation of the assets of these plants and the modus operandi for the transfer of assets.

The CCoP discussed the summary of the privatization of SME Bank Limited and the delisting of SME Bank Limited from the Privatization Commission.

The meeting, after extensive discussion, formed a committee chaired by the Minister of Finance and representatives of the SBP, SECP, Finance Division and Privatization Division to assess alternative options for going further.

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