PC GIVES FINAL CALL FOR JAMSHORO POWER COMPANY

Islamabad, August 24, 2004

The Privatisation Commission has given final invitation to qualified strategic investors, consortia of strategic/ financial investors interested in acquiring 51 % interest in Jamshoro Power Company (JPC) including management control to submit their Expression of Interest (EOI) latest by November 30, 2004. Parties with relevant credentials submitting EOIs will be dispatched a Request for Statement of Qualification (RSOQ) from September 15, 2004.

Parties who have already submitted EOIs and have been pre-qualified need not apply afresh. However, the new entrants have been asked to furnish their EOIs along with brief profile of the potential investor with non-refundable processing fee. A preliminary information memorandum containing more detailed information on JPC is available from the Privatisation Commission and will be provided free of charge on request.

Jamshoro Power Company Limited holds properties, rights, assets and liabilities of two power stations, Jamshorow, an 880 MW gas and furnace oil-fired power plant and Kotri, a 174 MW gas fired power plant. The assets are strategically positioned in Pakistan Grid. The Jamshoro facilities are located 18 km from  Hyderabad and 165 km North East of Karachi while Kotri facilities are located within the environment of Hyderabad.