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ECC gives nod to privatization of NPPMCL

ECC gives nod to privatization of NPPMCL

ISLAMABAD: Economic Coordination Committee (ECC) of the Cabinet has given go-ahead to the Privatisation Commission to fast-track the privatisation of National Power Parks Management Company (NPPMCL) while the issues related to review and adjustment of risk allocation under the power purchase agreement would be considered again in the next ECC meeting for a final decision.

The instructions were passed during a meeting of the Economic Coordination Committee of the Cabinet held with Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh in the chair.

During the meeting, the ECC noted that change in the percentage of gas supply to these plants managed by the National Power Parks Management Company would not affect the privatisation of the company as the capacity payments of both the plants were ensured under the PPA. Therefore, the ECC decided that Privatisation Commission should go ahead with its transaction.

The ECC further observed that the reallocation of gas to other sectors could be considered in the next meeting wherein a detailed proposal in this regard would be presented by the Privatisation Commission.