Managing Partner – Pakistan
Bilal Shaukat, a distinguished Barrister, serves as the firm’s Managing Partner in Pakistan and leads the corporate and commercial practice based in the firm’s Karachi office.
Renowned for his legal prowess, Bilal is a key advisor to clients in the financial, commercial, and industrial sectors, specializing in regional and cross-border projects, high-value transactions, and intricate regulatory and compliance matters. His extensive expertise spans both contentious and non-contentious legal issues, encompassing the drafting and negotiation of complex project documents, strategic planning, corporate and financial structuring, investment, mergers, acquisitions, divestitures, and financing, including Islamic modes such as sukuks and project finance. Bilal is particularly adept at guiding clients through the entire lifecycle of power projects, including thermal and renewable energy ventures, and other infrastructure projects, including public and private partnership initiatives.
Acknowledged by various legal industry guides, Chambers recognizes Bilal as a “distinguished practitioner with substantial experience in the energy sector M&A.” A testament to his professional excellence, client feedback attests: “He is a highly qualified lawyer. His consultations are on the dot and clients are well happy with his high level of service and sophistication combined with commercial awareness and foresight.” He is praised for his adept handling of energy projects and is well-versed in the PPP model, providing counsel on concession agreements, licenses, and project agreements.
Bilal Shaukat serves as local counsel for the Turkmenistan Government in the TAPI Gas Pipeline Project. He has represented both the federal and provincial governments on SOE privatizations and public-private partnership projects. Notably, he recently provided expert witness services on Pakistani law in the Grand Court of the Cayman Islands, specifically in a case related to K-Electric.
Beyond his legal roles, Bilal acts as an independent director on the board of Metro Power Company Limited and has previously held a directorship at BMA Capital Management Limited.
Bilal advises multiple charitable organizations, demonstrating a commitment to corporate social responsibility. He also serves as the local expert for the World Bank as part of the World Bank’s Women, Business, and Law Initiative.
Bilal Shaukat’s contributions extend to legal literature, with numerous articles in various journals/directories on tax, mergers and acquisitions, and doing business in Pakistan. Notable contributions include chapters in:
• Lexis Nexis Law Guide – Mergers & Acquisitions
• Chambers Global Practice Guides Doing Business in Pakistan
• The Legal 500 Country Comparative Guides – Mergers and Acquisitions
• Practical Law – Doing Business in Pakistan.
Corporate social responsibility is a core value of Bilal’s practice. He has advised and is currently advising multiple charitable organizations. He also acts as the local expert for the World Bank as part of the World Bank’s Women, Business and Law Initiative.
Education
- Cardiff University, BVC, 1999
- London School of Economics, MSc, 1998
- University of Hull, LLB (Hons), 1997
- University of Punjab, BA, 1994
Experience: Banking and finance
- Lender’s Counsel for National Bank of Pakistan on all aspects of the grant of a finance facility of up to PKR 65 billion (approx. USD 357.2 million) to Government Holdings (Private) Limited for the purposes of raising finance for the proposed settlement of the Reko Diq dispute.
- Lender’s Counsel for MCB Bank Limited, which led a consortium of local banks to provide syndicate finance of up to PKR 9,700,000,000 to Attock Cement Pakistan Limited pursuant to the State Bank of Pakistan’s refinancing schemes for Long Term Finance Facility and Temporary Economic Refinance Facility, each with a submit limit letter of credit facility.
- Lender’s Counsel for Allied Bank Limited for the provision by it of bilateral finance facilities of up to PKR 3,258,000,000 to Engro Elengy Terminal (Private) Limited (EETPL) for refinancing of EETPL’s existing project finance facilities.
- Legal counsel for a syndicate of local banks providing finance facilities of over Rs.9 Billion (on a project finance basis) to Hartford Alternative Energy Pvt Limited for developing a 50 MW wind power plant.
- Legal counsel for Pakistan National Shipping Corporation for availing a cross-currency swap with FX – Reset for Rs. 2.6 Billion from Standard Chartered Bank (Pakistan) under the ISDA Master Agreement.
- Legal counsel for a syndicate of local banks providing finance facilities of over Rs.12.3 Billion (on a project finance basis) to Halmore Power Generation Company for developing a 225 MW dual fuel-fired (Gas and High-Speed Diesel) power station.
- Legal counsel for Pakistan National Shipping Corporation (PNSC) over a period of more than ten years for availing multiple finance facilities, including financing of a syndicated term finance facility up to US$ 90 Million for acquisition of 2 oil tankers by wholly owned subsidiaries of PNSC (2013), finance facility of up to Rs. 4,000 million for the purposes of refinancing PNSC long term loan (2015); financing of up to US$ 90 Million for acquisition of three (3) oil tankers by wholly owned subsidiaries of the PNSC (2018); financing of a long-term finance facility up to US$ 35 Million for acquisition of one (1) oil tanker by a wholly owned subsidiary of the PNSC (2019).
- Legal counsel for a syndicate of local banks providing over Rs. 1,8 Billion running finance facilities to Saif Power Limited for operating 235MW combined cycle dual-fuel Gas and high-speed diesel-fired electric power generation.
- Legal counsel for Standard Chartered Mauritius for providing a loan facility of US$ 45 million to Kot Addu Power Company Limited.
- Legal counsel for Sindh Nooriabad Power Company Limited for private placement of term finance certificates for Rs.1.5 Billion.
- Legal counsel for Thatta Power Limited for availing finance facilities of up to Rs.1.1 Billion for the expansion of the existing power project.
- Experienced in Islamic finance, including acting as legal counsel for the Hub Power Company Limited for the issuance of short-term (private placement) Sukuks to Meezan Bank for Rs. 2 Billion; legal advisor to Lucky Electric Power Company Limited for issuance of Islamic Commercial Papers of up to PKR 5 billion and the issue of Sukuks of up to PKR 5 billion.
- Structured and advised companies and financiers on financial facilities for the development of thermal and renewable power generation projects exceeding USD 3 billion.
Experience: Merger and acquisitions
- Legal counsel for Archroma Pakistan Limited in the merger of its chemical undertakings.
- Legal counsel for House of Habib in amalgamating and reconstructing two of Pakistan’s largest cash and carry outlet networks.
- Legal counsel for Suroor Investments for the acquisition of Arif Habib Bank Limited (now Summit Bank).
- Legal counsel for a foreign (Singapore-based) client for the acquisition of a substantial interest in two companies developing 50MW wind power generation projects.
- Legal counsel for Standard Chartered Bank acting as Manager to the public offer under the Listed Companies (Substantial Acquisition of Voting Shares and Takeover) Ordinance 2002 for the acquisition of shares of ICI Pakistan Limited. Services included the preparation of all documents relating to the public offer.
- Legal counsel for Citibank as Manager to the public offer for the acquisition of Pakistan International Container Terminal Limited.
- Advised Azentio Software in connection with its acquisition of the local subsidiary of Path Solutions as part of the global acquisition of Path Solutions.
- Legal counsel to Bhanero Textile Mills Limited (BTML), a listed company, and Bhanero Energy Limited (BEL) in connection with the transfer of one of the two power generation units of BEL to BTML under a scheme of arrangement.
Experience: Projects, energy and infrastructure
Experienced in transaction advisory and drafting/negotiation of project agreements, including implementation agreements, EPC contracts, power/energy purchase agreements, operation & maintenance agreements, financing agreements (for project finance and working capital finance) and fuel supply agreements, transaction advisory on matters relating to generation license, tariff, tax, consents, and other regulatory requirements.
Experience
Power
- Legal counsel to Indus Wind Energy Limited, Lakeside Energy Limited, Tricom Wind Power (Private) Limited, and Din Energy Limited in setting up a c. 50MW wind power plant in Jhimpir, Sindh, Pakistan. Two of the power plants have commenced commercial operations.
- Local Project Counsel for Lucky Electric Power Company Limited regarding financing a 660MW coal-fired power project to be set up at Bin Qasim Town, Karachi, Pakistan. The plant commenced commercial operations in 2022.
- Legal counsel for The Hub Power Company Limited, the largest power station financed by the private sector in Southern Asia, in setting up an expansion facility, i.e., a power plant of 213 MW at Narowal, Pakistan.
- Legal counsel for Karachi Electric to develop and modernize multiple grid stations and the construction of transmission lines.
- Legal counsel for K-Electric in preparing the supply and construction contracts and conditions related to the rehabilitation of various existing overhead transmission lines.
- Legal counsel for Yunus Energy Limited, setting up a 50MW wind power project in Sindh. The plant has commenced commercial operations.
- Legal counsel for Tapal Wind Energy (Private) Limited, setting up a 30MW wind power project in Sindh. The plant has commenced commercial operations.
- Legal local counsel for Gul Ahmed Wind Energy Limited, setting up a 50MW wind power project in Sindh. The plant has commenced commercial operations.
- Legal counsel for various companies developing and operating small gas-fired captive power projects (10MW to 30MW) in Sindh, including Omni Power, Dadu Power, Shikarpur Power, Thatta Power, Hi-Tech, Galaxy Power etc.
- Legal advisor to Sindh Nooriabad Power Companies for the development of two 50MW gas-fired power projects being set up for the first time under Public Private Partnership in Nooriabad, Sindh.
- Advising K-Electric in the development of three (3) 50 MW projects each in Tehsil Vindar, Uthal and Bela of Baluchistan region through the “Competitive Bidding Process” under the regulatory regime for competitive bidding.
Public Private Partnership (PPP) Projects
- Legal advisor to Sindh Nooriabad Power Companies for the development of two 50MW gas-fired power projects being set up for the first time under Public Private Partnership in Nooriabad, Sindh.
- Legal consultant to Investment Department, Government of Sindh, for establishing in PPP mode the Dhabeji Special Economic Zone project, which is part of the nine special economic zones planned under the China-Pakistan Economic Corridor from feasibility to signing of the PPP agreement with the private partner.
- Legal advisor to the successful consortium for the Malir Expressway Project, an infrastructure project to be built in PPP mode, and thereafter Malir Expressway (Private) Limited in its signing of the concession agreement with the Government of Sindh and related matters.
- Legal advisor to Deokjae Construction Company (Private) Limited, the private party in the Hyderabad-Mirpurkhas dual carriageway, a public-private partnership project in Sindh.
- Legal advisor to South Asia Terminals Pakistan Limited, which operates a deep port terminal under a concession granted by the Karachi Port Trust.
- Legal advisor in an unsolicited proposal for an infrastructure project involving a bridge proposed to be built in PPP mode in Sindh.
- Legal advisor representing a consortium in an unsolicited proposal for a road infrastructure project proposed to be built in PPP mode in Punjab.
Fuel Supply Contracts
- Legal counsel for various companies for procurement of fuel, including gas, RLNG, HSFO, and coal, with respect to various thermal-powered power plants.
Languages
English and Urdu
Memberships
- Honourable Society of Lincoln’s Inn
- Enrolled as an Advocate of the High Court
- Sindh High Court Bar Association
- Sindh Bar Council
Practice areas
- Corporate and commercial
- Banking and finance
- Projects, energy and infrastructure
Publications and articles
- RIAA advises BYD on strategic entry into Pakistan’s EV Market – November 2024
- Pakistan Chapter of the Chambers Corporate M&A Guide – August 2023
- Lexology Public Private Partnerships in Pakistan – August 2023
- Endeavor Global expands into Pakistan – August 2023
- RIAA Barker Gillette PK advises Ravi Urban Development Authority – February 2024
- Faisal Spinning Mills signs renewable wind plant deal to cut energy costs – January 2024
- Expert witness in the Cayman Islands K-Electric dispute – November 2023
- Pakistan Chapter of the Lexology “Get the Deal Through” Guide on Public-Private Partnerships – August 2023
- Pakistan Chapter of the Chambers Corporate M&A Guide – August 2023
Recognition and awards
What clients say
- One client observes: ”Bilal is a very capable lawyer with a good project financing documentation skill set. He has clarity on the requirements and a problem-solving approach.”- Chambers Asia Pacific 2022
- A client lauds his excellent commercial understanding and communication skills to match: ”His strength is patiently listening to issues, honing in on what is relevant and significant, identifying the risks and clearly explaining the associated risks and solutions whilst weighing financial, commercial, operational and relationship risks and consequences.”- Chambers Asia Pacific 2022
- One client states he is ”very well respected in the power area.”- Chambers Asia Pacific 2022
- Bilal Shaukat receives praise from clients for the depth of his knowledge and his ability to handle both the legal and commercial aspects of transactions. He maintains a highly active practice representing energy companies in their project finance deals- Chambers Asia Pacific 2021
- Bilal Shaukat has been a pleasure to work with due to his politeness, availability and responsiveness- The Legal 500 2021
- Bilal Shaukat is a distinguished practitioner with substantial experience on energy sector M&A. One client comments: “Bilal generally advises us on all areas of corporate laws and restructuring. He is competent and thorough with a vast amount of knowledge- Chambers Asia Pacific 2021
- Bilal Shaukat is admired for his adept handling of energy projects, regularly assisting clients with development and financing matters. A client comments: “Bilal has probably the best commercial acumen of all the lawyers.” Another agrees, stating how “the Karachi power sector is basically handled by Bilal.- Chambers Asia Pacific 2021
