The Punjab Cabinet on Saturday approved proposal for the privatisation of Quaid-e-Azam Solar Power Private Limited Company. The meeting, chaired by Chief Minister Shahbaz Sharif, also approved setting up of Punjab Thermal Power Company Limited for new gas power project of 1200MW capacity and the names of Board of Directors of the company. This company will be responsible for the implementation of 1200MW new gas power project. The cabinet also approved amendments in Punjab Servants Housing Foundation Act 2004, amendment in 12th Schedule of Provincial Motor Vehicles Ordinance 1965 and Punjab Zakat and Ushr Act 2016. The report of Punjab Pension Fund for June 30, 2013 was presented in the session and the cabinet gave approval to present this report before Provincial Assembly of Punjab. The meeting also approved amendment in Weights and Measures International Enforcement Rules 1976 and it also okayed the step of measures for domestic borrowing.
Addressing the meeting, the Chief Minister said that setting up of industries is not the job of the governments; governments make policies to provide facilities to the people.
He said Prime Minister Nawaz Sharif in 2013 had promised with the nation to end energy crisis and under the leadership of the prime minister untiring efforts have been made for this purpose.
He said that Punjab government, to give practical shape to this promise of the prime minister, installed 100 MW solar project at Quaid-e-Aam Solar Park at Bahawalpur that has given profit of more than two billion rupees so far and now privatisation of this project has been decided with the approval of provincial cabinet.
He said investors have expressed interest in this project and the privatisation of this project will be transparent.