CCOP approves sale of K-Electric stake

ISLAMABAD: In a major development, Pakistan has decided to issue the National Security Certificate to Shanghai Electric Power in its bid to buy a majority stake in K-Electric, removing one of two barriers that stopped the multi-billion dollar deal from moving ahead for the last one-and-a-half years.

Headed by Prime Minister Shahid Khaqan Abbasi, the Cabinet Committee on Privatisation (CCOP) approved to grant the National Security Certificate to KES Power Limited for sale of all its 66.4% shareholding in the country’s largest utility company. The KES Power Limited is an offshore company incorporated under the laws of Cayman Islands, and owns 66.4% stake in K-Electric.

Published in The Express Tribune, 31st March, 2018