SENATOR WAQAR DIRECTS PC TO ENSURE TRANSPARENT PRIVATISATION OF NPCC
 

Islamabad, April 2, 2010

Senator Waqar Ahmed Khan Federal Minister for Privatisation directed the Privatisation Commission (PC) to take measures needed to ensure that the Nation Power Construction Company (NPCC)’s Privatisation is done in a most transparent manner and in accordance with the legal requirements which would be in the best interest of Pakistan and the nation.

The Minister said the government gave priority to the rights of the workers and in line with the manifesto of the Pakistan Peoples Party (PPP) by empowering the workers through innovative Benazir Employees Stock Option Scheme (BESOS), which has also given free of cost shares to employees of NPCC and ensured their representation on the Board of the Directors of NPCC.

Senator Waqar Ahmed Khan, Minister for Privatisation, today chaired a meeting at Lahore to review the status of Privatisation of National Power Construction Corporation (NPCC). He was briefed by the MD, NPCC regarding the functioning of the organization.

National Power Construction Corporation, a state enterprise in the Ministry of Water and Power, is engaged in construction of Power Projects in the Middle East with concentration in Saudi Arabia and enjoys high recognition in Middle East for its performance during the last three decades. The Company has all along been self-financing and contributing to the national economy particularly foreign exchange earnings by its all-Pakistani workforce on the overseas projects.

NPCC has been on the privatisation anvil for sometime and the purpose of the meeting and interaction with NPCC’s management was to discuss various options vis-à-vis its Privatisation.