- Committee also decides to divest residual govt shares of 18.39pc in Mari Petroleum Company
ISLAMABAD: The meeting of the Cabinet Committee on Privatization (CCOP) was held on Wednesday with Finance Minister Asad Umar in the chair.
The Privatization Division secretary gave the meeting an update on the privatization process of public sector entities listed on the active privatization list, including RLNG power plants (Balloki and Haveli Bahadur Shah) under the National Power Parks Management Company (NPPMC), Lakhra Coal Mines and Services International Hotel. Matters pertaining to the divestment of the government’s residual shares in Mari Petroleum Company also came under discussion.
With a view to facilitating simultaneous and smooth privatization of both RLNG plants, the CCOP gave its nod of approval for privatization of the NPPMCL. It also accorded an approval to divest residual government shares of 18.39pc in Mari Petroleum Company Ltd.
In case of Lakhra Coal Mines, the CCOP directed that since the matter is subjudice, its privatization process may be pursued only after a decision by the Supreme Court.
The CCOP also noted the updated position on K-Electric as shared by the privatization secretary.