Govt received 100 percent amount of 9 privatized entities

ISLAMABAD: Federal Minister and Chairman Privatization Commission Mohammed mian Soomro here on Thursday was apprised that 100% amount of 9 government owned properties which were privatized in last year, has been received and remaining unsold properties in Rahimyar Khan,Multan and Swat will be re-auctioned in March 2021.

A regular weekly meeting on privatization transactions update was held here, which chaired by the minister, says a press release.

Federal Secretary Privatization, DGs, Transaction Managers and others also attended the meeting.

The minister was briefed about update on various transactions and told that for Privatisation of Heavy Electrical Complex (HEC) 12 EoIs have been shortlisted for issuance of Request for Statement of Qualification(RSOQ).

Transaction of HEC is expected to be completed by June 2021, whereas the transaction of Services International Hotel Lahore is also at advance stage.

A meeting of transaction committee for Privatisation of Jinnah Convention Center Islamabad is also scheduled to be held on 18 February to discuss the marketing status and efforts..

It is also pertinent to mention that in order to attract competitive bidding for Privatisation of Sindh Engineering Limited (SEL) privatisation commission has planned to re-initiate the process for hiring of Financial Advisor (FA) by mid of March in this year.

The progress on power plants of National Power Parks Management Company Ltd. (NPPMCL) ,Pakistan Steel Mills, First Women Bank ,PECO, HBFC and SME was also discussed.

The minister advised his team to expedite transactions by having multiplying efforts using all possible resources to complete transactions as early as possible.

He also directed the all concerns that issues with other related ministries should be resolved immediately to expedite transactions.