The government has invited investors to bid for an equity stake and management control in the Kot Addu thermal power station. A similar invitation to buy a stake in the Jamshoro power station is expected to be issued by April 1995.
CS First Boston of the US has been appointed as financial adviser for both sales, and will be assisted by the local BMA Capital Management. Companies interested in acquiring the 26 per cent interest in Kot Addu were to have submitted prequalification documents by early December. The closing date for bids is 28 January. No details have been released on the estimated value of the stations.
CS First Boston has already received a lot of interest in the sale. ‘There are tremendous opportunities in Pakistan, with the government’s clear commitment to bring in private investment,’ said a CS First Boston representative.