Punjab cabinet approves privatization of Quaid-e-Azam Solar Park

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LAHORE, June 10 (APP): A meeting of the provincial cabinet
presided over by Punjab Chief Minister Muhammad Shehbaz
Sharif on Saturday approved unanimously privatisation of
Quaid-e-Azam Solar Power Private Limited Company.
The meeting also approved setting up of the Punjab Thermal
Power Company Limited for new gas power project of 1,200MW
capacity and names of the board of directors of the company.
The company will be responsible for the implementation of
1,200MW new gas power project.
The provincial cabinet also approved amendments in Punjab
Servants Housing Foundation Act 2004, amendment in 12th
Schedule of Provincial Motor Vehicles Ordinance 1965 and
Punjab Zakat & Usher Act 2016.
The report of Punjab Pension Fund for June 30, 2013 was
presented in the session and the cabinet gave approval to
present this report before the Punjab Assembly.
The meeting also approved amendment in Weights and Measures
International Enforcement Rules 1976 and it also approved the
step of measures for domestic borrowing.
Addressing the meeting, the chief minister said
setting up of industries was not the job of the governments;
governments made policies to provide facilities to people.
He said Prime Minister Muhammad Nawaz Sharif in 2013 had
promised with the nation to end energy crisis and under the
leadership of the prime minister untiring efforts had been
made for this purpose.
The CM said the Punjab government, to give practical shape
to this promise of the prime minister, installed 100 MW solar
project at Quaid-e-Aam Soalr Park Bahawalpur and this project
inaugurated in 2015 had given profit of more than two billion
rupees so far and now privatisation of this project had been
decided with the approval of provincial cabinet.
He said:” With the privatisation of this project, we will
also get profit earned from this project besides expenditures.”
He said investors had expressed interest in this project
and the privatisation of this project would be transparent
and will be carried out in front of cameras and everything
regarding privatization would be crystal clear for the public.
He said auction process would be telecast live through
media cameras. He added the process of privatization had been
unanimously approved by the cabinet according to which the
privatization will be carried out under strategic sale.
He directed to constitute Cabinet Steering Committee for
Privatisation and said that Cabinet Steering Committee for
Privatisation will monitor all aspects of the privatization.
He said that privatisation of this project would be carried
out in a very professional manner and from the start to the
current situation this project had been carried out in a very
transparent way and this was the model which should be followed
in every department and institution and this model will be
promoted.
Shehbaz Sharif said no country could make progress without
transparency, professionalism and utilizing competent human
resource. He added institutional system should be strengthened
to improve the system and ministers should enhance capacity of
their departments.
He said:” We should transfer such legacy to
our generations that they can be proud of.”
The meeting praised the efforts of the concerning
departments regarding privatization.
The cabinet meeting also praised Finance Minister Ayesha
Ghaus Pasha, Malik Nadeem Kamran, the chief secretary, chairman
Planning and Development, Secretary Finance and entire team
for presenting excellent budget for 2017-18.
The provincial ministers, advisers, special assistants,
chief secretary, secretaries of concerning departments and
senior officials attended the meeting.