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Privatisation faces further delay
Government expects minimum proceeds of Rs300 billion or around $1.5 billion from the sale of two power plants. PHOTO: REUTERS
ISLAMABAD:
The privatisation transaction worth over a billion dollars of two liquefied natural gas (LNG)-fired power plants has been delayed further as the government has not been able to resolve issues of income tax exemption and debt financing over the past two years.
Various government departments have been holding a series of meetings to resolve the issues raised by the financial advisers and prospective bidders for taking the transaction to the bidding stage. But progress remained painstakingly slow, said officials in the Ministry of Finance and Ministry of Privatisation. ....

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