Federal Cabinet Approves Divestment of Govt Shares in Mari Petroleum

The federal cabinet on Tuesday approved the divestment of the Government of Pakistan’s shares in Mari Petroleum Co. Ltd. (MPCL).

The development took place 10 days after a meeting of the Cabinet Committee on Privatization (CCoP) which had decided to remove MPCL from the list of privatization after a detailed deliberation on a proposal seeking divestment of the government’s shares in the firm.

The cabinet meeting, chaired by Prime Minister Imran Khan, also approved the proposal seeking revision of Capital Structure-Debt Recapitalization and Refinancing/Replacement of Government of Pakistan’s Excess Equity and Pakistan Development Fund Limited (PDFL) Loan through the National Power Park Management Company Limited (NPPMCL).

The cabinet also agreed on formalities for the privatization of the Guddu Power Plant and Nandipur Power Plant.

It also decided in principle that the Ministry of Science and Technology would retain the National Institute of Electronics.