Pakistan is expected to sell two gas-fired power plants totalling 2,560 MW to Qatar in an estimated US$1.5bn deal, in order to avoid sovereign default. The country faces a threat of sovereign default due to a delay in the revival of the International Monetary Fund (IMF) programme. The two plants were built concurrently with Pakistan’s first LNG terminal and are currently owned by the National Power Park Management Company. They had been put on an active list for privatisation over four years ago, but had then been removed from the privatisation programme.
This decision comes after Pakistan approved the Inter-governmental Commercial Transaction Act of 2022, which authorises the direct sale of assets to the foreign nations, instead of following the long process set under the Privatisation Ordinance of 2000. In August 2022, Qatar assured the IMF board that it would make a US$3bn investment in Pakistan, including purchasing both plants, aimed at bridging a financing gap identified by the IMF.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.