ISLAMABAD, Feb 10 (APP):Federal Minister for Privatization Mohammed mian Soomro on Monday appreciated the Thailands power sector companies for investing in Pakistan to provide competitiveness in this sector.
The delegation from Thailand Investment Company and Global Power Synergy Public Company Limited (GPSC) called on Federal Minister for Privatization Mohammedmian Soomro here, said a press release issued by Ministry of Privitization.
The minister responded to various queries regarding the power plants privatization and overall power sector scenarios in Pakistan.
The Minister said that as per the vision of Prime Minister Imran Khan, “we encourage foreign investment and will do our best to facilitate the foreign investors in all possible manners by providing business friendly environment, tax concessions and conducive regulatory framework.”
He said the privatization of profitable power plants of HaveliBahadarsha and Balloki is expected during the fiscal year.
The Minister said that to equip the investors with relevant information regarding the plants, the Virtual Data Room (VDR) was inaugurated in National Power Parks Management Company Limited (NPPMCL), the huge data base will provide all essential detail to the investors.
Soomro explained that one window facilitation center is established for all independent power producers, the foreign investors are assisted in matters involving repatriation of dividends, taxation and other related subjects.
It is pertinent to mention that the data room has 78k documents and 474 specialized folders.
Chawalit Tippanich, CEO GPSC said that he was moved by the professionalism and efficiency of the Ministry and said that GPSC will have a secure investment in Pakistan in the coming years.
A presentation with a detail regarding regulatory framework, tariff structure and organizational functioning of entire power sector was also presented.
Ministry of Privatization prequalified 12 companies for the Privatization of two RLNG based power plants; HaveliBahadarsha and Balloki.
The delegation was briefed about the power plants.
Global Power Synergy Public Company Limited (GPSC) is a flagship that operates the power generation business to support growth of the group as well as other industries.
GPSC is also involved in other businesses while seeking opportunities for investment in power projects, both domestic and overseas.
It is also determined to develop technologies for improving energy storage in its attempt to become a leading power company that is internationally recognized for innovation and sustainability.