Pakistan Agriculture News

Nine bids submitted for privatization of QASP

LAHORE: Nine entities have submitted their bids for the privatization of Quaid-e-Azam Solar Power Plant (QASP) having a capacity of 100 megawatts.

This was revealed by Punjab government officials on Thursday and the privatization is expected to be concluded by 19th April, reported The News.

The officials emphasized the privatization process wouldn’t be impacted by an ongoing National Accountability Bureau (NAB) investigation.

They said that NAB has requested for certain data regarding QASP, which was being provided, revealed an official of the Punjab government.

He added the provincial law department had recommended for the privatization of QASP to go ahead and concluded as per initial plan.

The provincial government which completely owns QASP is interested in offloading its entire stake in the plant.

The Punjab Privatization Board (PPB) with the backing of the federal government invited expression of interest from investors who were willing to purchase the entire 100 percent stake in QASP.

And all bidders will provide their financial quotations and the successful winner will be named on April 19th, but official ratification of the deal will be approved later by the Punjab government.

Nine companies have submitted bids for acquiring the 100 percent stake in QASP. These include Jahangir Siddiqui & Co, Orient Electronics, Vitol Dubai Ltd, TBEA Xinjiang SunOasis Co. Ltd, Artistic Milliners Pvt. Ltd, Atlas Power, China Haudian Company Limited, Saba Power Ltd and Master Textile Mills Ltd have been pre-qualified for taking part in bidding process