Govt to issue security certificate for K-Electric sale

ISLAMABAD: The government on Friday decided to issue a national security certificate for the sale of shares held by KES Power Ltd in K-Electric Ltd (KEL) to the Chinese multinational Shanghai Electric Power Ltd (SEPL).

A meeting of the Cabinet Committee on Privatisation (CCoP) on Friday, chaired by Prime Minister Shahid Khaqan Abbasi, decided that the issuance of the national security certificate, however, would be subject to the ratification by the federal cabinet.

The issuance of the certificate is also linked with the clearance of billions of rupees debt on K-Electric’s balance sheet and obtaining approval of the regulatory authority, Nepra, it was learnt.

Published in Dawn, 31st March, 2018