Government Delists 5 Properties from its Privatisation Programme

The government has delisted five properties from its privatization programme after it received statements of qualification (SOQs) from three parties to sell two power plants worth $2 billion.

At a meeting of the Cabinet Committee on Privatisation (CCOP) presided over by Adviser to the Prime Minister on Finance & Revenue Dr. Abdul Hafeez Shaikh the decision was taken to delist five properties.

Also, it was decided in the meeting to hand over 3 of the 5 delisted properties to the Naya Pakistan Housing Authority to construct affordable housing units.

There were two more properties that were found to be tricky as their titles are unclear and they have been pledged against commercial loans. The ministries have been directed to identify two other properties with clear titles and transfer them for sale to the Privatisation Commission.

Also read: Biggest Privatization in Pakistan in a Decade – Two Foreign Banks bid for role in Sale of 2 LNG Plants

It was decided in the CCOP meeting to hand over three of five delisted properties to Naya Pakistan Housing Authority.

A property that belonged to the Federal Board of Revenue (FBR) in Lahore has been taken over by the Lahore Development Authority (LDA) and a plot in F15 Islamabad of Pakistan Post was claimed by the Capital Development Authority (CDA).

18.8 Kanal plot of Pakistan Post in F-15, Islamabad, and Radio Pakistan’s 841.6 kanal commercial/agricultural land at Multan Road, Lahore and 928 Kanal commercial land at Pipri, Karachi is also removed from the privatization list. Similarly, two FBR’s properties that include IRS Colony of four kanals in Lahore and a 50-acre land at Hawksbay Road, Mauripur, Karachi are also removed from the sale list.

In the meeting, a non-agenda item for an update on the privatisation of two Liquefied Natural Gas (LNG) based power plants in Punjab was also discussed. It was revealed that so far three SOQs have been raised while the submission deadline is 17th January. The applications belonged to the investors from Malaysia, Thailand, and Japan.

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