Expression of interest (EOI) for privatization 100MW unit of Quaid-e-Azam Solar Park Ltd (QASPL) will be called in a few days.

Dr. Aysha Ghous Pasha, Punjab Privatization Board meeting chaired by the Provincial Finance Minister has made the decision of privatization in a board meeting in which other attendees are energy secretary, officials of Finance, Industry, Quaid-e-Azam Solar Park, and other concern departments.

The three-member committee formed by the finance minister having energy secretary and officials of the financial and industrial departments as members will complete the process of advertisement and EOI in coming few days. For the sake of buying 100 MW units of the Punjab government, the interested parties would come to Quaid-e-Azam Solar Park.

Muhammad Amjad, CEO QASPL, said that 100 MW unit owned by the Punjab government in the park cost about Rs 16 billion. The punjab government has invested only Rs 3.8 billion out of this Rs 16 billion while the rest was a loan from the Bank of Punjab. So far, the QASPL has made a profit of about Rs 1.6 billion. Out of Rs 1.6 billion, the 1billion is handed over to a social sector that is invested in health care projects in the province.

Amjad said, “the production of the solar plant is not in megawatts but in megawatt hour, so no expert can calculate output in MWs. The efficiency of the plant is 18.5% that is much greater than a Solar plant of Dubai is 18% and Germany 13%”.

Finance Minister Dr. Aysha Ghous Pasha, said, “The Punjab Privatization Board (PPB) has approved the privatization of the QASPL 100MW unit at a board meeting. The reason for privatization is that the core responsibility of the government’s performance in the social sector is influenced. Fluctuation in fuel prices globally affects the energy mix that is poor in Pakistan that makes the private sector reluctant to invest in renewable energy”.

The example was set by the Punjab government by investing in the Solar project and encouraged the private sector. Following the footsteps, Chinese invested in the 300MW project of QAPSL and Turkish investors are willing to invest in on another 300MW project.

“The government has successfully attracted the private sector to make an investment in renewable energy projects especially in solar in Pakistan by the establishment of the 100MW solar plant in country”, said Dr. Aysha Pasha.

She further added that the government will complete this transaction in a transparent manner and a plan is sketched for how to use money after privatization

“I appointed secretary energy as focal person for discussing media’s sensitive queries and keep the process fair and transparent,” the finance minister said.

The spokesperson for the Punjab government, Malik Muhammad Ahmed Khan, has to respond to media timely. He showed his concern that bureaucrats either did not or delay or give improper information to media.