Caretaker govt decides against privatising two LNG-run power plants
Last updated on: 12 October,2023 12:04 pm
Decision may irk the International Monetary Fund
ISLAMABAD (Dunya News) – A plan shared with the International Monetary Fund (IMF) shows that Pakistan has decided not to privatise two power plants fired by liquefied natural gas (LNG), sources in Power Division say.
According to the sources, the caretaker government would not privatise the Haveli Bahadur Shah and Baloki power plants as the process can’t be completed during its tenure.
The move comes after the Pakistan had committed with the IMF that the two units would be privatised as part of the overall condition set by the world’s top lender to dispose of the state-owned enterprises.
On the other hand, the Privatisation Commission source say the plan can make the IMF demand even more strict demands in the upcoming review of the $3 billion bailout programme agreed with the former coalition government.
These sources added that the IMF was of the stance the privatisation of the two LNG-fired power plants would increase the country’s foreign reserves. However, the government formed after the general elections would going to decide the matter, they said.