Pakistan’s LNG-powered Haveli Bahadur Shah and Baloki power plants will not be privatized during the caretaker government’s tenure, sources informed ProPakistani on Thursday.
This comes in the wake of ongoing discussions with the International Monetary Fund (IMF) regarding the privatization of state-owned enterprises (SOEs), including power plants.
The Power Division sources said the process of privatizing these vital energy facilities cannot be completed during the interim regime. The decision on whether to privatize Haveli Bahadur Shah and Baloki Power Plants will be the responsibility of the next elected government.
The IMF has persistently advocated for the privatization of SOEs as part of Pakistan’s economic reforms. Their suggestion has been that this privatization initiative would enhance foreign reserves. However, with the caretaker government’s decision not to proceed with the privatization at this time, the IMF may exert increased pressure in the upcoming economic review.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan