Lahore, Pakistan: Punjab government will privatize Quaid-e-Azam Solar Power Private Limited Company.
The decision was taken here today by provincial cabinet that was presided over by Chief Minister Punjab Muhammad Shehbaz Sharif.
The meeting also approved setting up of Punjab Thermal Power Company Limited for new gas power project of 1200MW capacity and the names of Board of Directors of the company. This company will be responsible for the implementation of 1200MW new gas power project.
The provincial cabinet also approved amendments in Punjab Servants Housing Foundation Act 2004, amendment in 12th Schedule of Provincial Motor Vehicles Ordinance 1965 and Punjab Zakat & Usher Act 2016.
He said that Punjab government, to give practical shape to this promise of the prime minister, installed 100 MW solar project at Quaid-e-Aam Soalr Park Bahawalpur and this project inaugurated in 2015 has given profit of more than two billion rupees so far and now privatisation of this project has been decided with the approval of provincial cabinet.
He said with the privatisation of this project, we will also get profit earned from this project besides expenditures. He said investors have expressed interest in this project and the privatisation of this project will be transparent and will be carried out in front of cameras and everything regarding privatization will be crystal clear for the public. He said auction process will be telecast live through media cameras. He said the process of privatization has been unanimously approved by the cabinet according to which, the privatization will be carried out under strategic sale.
He directed to constitute Cabinet Steering Committee for Privatisation and said that Cabinet Steering Committee for Privatisation will monitor all aspects of the privatization. He said that privatisation of this project will be carried out in a very professional manner and from the start to the current situation this project has been carried out in a very transparent way and this is the model which should be followed in every department and institution and this model will be promoted. He said no country can make progress without transparency, professionalism and utilizing competent human resource. He said institutional system should be strengthened to improve the system and ministers should enhance capacity of their departments. He said we should transfer such legacy to our generations that they can be proud of. The meeting praised the efforts of the concerning departments regarding privatization. The cabinet meeting also praised Finance Minister Ayesha Ghaus Pasha, Malik Nadeem Kamran, Chief Secretary, chairman Planning and Development, Secretary Finance and entire team for presenting excellent budget for 2017-18. Provincial Ministers, Advisers, Special Assistants, Chief Secretary, secretaries of concerning departments and senior officials attended the meeting.
