Top Thai firm keen to invest in Pakistan’s power sector

ISLAMABAD: A delegation from top Thai investment firm called on Privatization Chairman Mohammedmian Soomro in Islamabad on Monday.

The Ministry of Privatization has prequalified 12 companies for the Privatization of two RLNG based power plants located at HaveliBahadarsha and Balloki.

The Thai delegation was briefed about the power plants and their existing and future status in the energy matrix.

Global Power Synergy Public Company Limited (GPSC), Thailand, 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.

The federal minister welcomed the potential investors in Pakistan and responded to queries regarding the power plants privatization.

A comprehensive presentation to that effect was also presented, explaining power sector framework, organizational functioning, prevailing energy scenario and also increase in demand for power.

Mohammedmian Soomro said that as per the vision of Prime Minister of Pakistan, “we encourage foreign investment and Ministry of Privatization is committed to facilitate the foreign investors in all areas by providing business friendly, efficient and conducive environment.”

It was apprised that the privatization of profitable power plants of HaveliBahadarsha and Balloki is expected during this fiscal year.

The 12 prequalified companies have already started their due diligence of the plants. Federal 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. The existing data comprises a huge volume of documents and 474 specialized folders.

On a question it was briefed by the Federal Minister that one window facility arrangement exists for all independent power producers in the country and the same will continue post privatization, the foreign investors are assisted and will be assisted in matters including dividends, taxation and other related subjects.

Mr. Chawalit Tippanich, CEO GPSC said that he is highly impressed by the professionalism and efficiency of the Ministry of Privatization and said that all the queries from GPSC have been comprehensively addressed.

The President/CEO expressed his gratitude and keenness to such a secure investment opportunities under the present government.