HBFC sell-off progress reviewed: Talks held with interested business group

ISLAMABAD: Federal Minister Privatisation Abdul Aleem Khan, Minister for Finance Muhammad Aurangzeb and Minister for Law Azam Nazeer Tarar held a meeting to review the progress on privatisation of House Building Finance Corporation on Thursday.

In this meeting, it was agreed that the protection of the employees of the institution will be kept in view while its privatisation.

The technical and legal aspects of the privatisation of the House Building Finance Corporation were also discussed in the meeting and a negotiation session was held with business group interested in the purchase of the House Building Finance Corporation along with the officers of the Privatization Commission.

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Federal Finance Minister Muhammad Aurangzeb and Law Minister Azam Nazeer Tarar also emphasised on the privatisation of the House Building Finance Corporation as soon as possible and directed to keep in view all procedural and legal aspects in this regard.

Earlier, in the 220th meeting of the Privatization Commission Board under the chairmanship of Federal Minister for Privatization, Investment Board and Communications Aleem Khan who is also chairman of Privatization Commission Board, approved the proceedings of meetings of 218 and 219th of PCB.

The meeting was told that PCB is in contact with the relevant departments including Finance, Law and Aviation.

Moreover, for the appointment of financial advisor for Roosevelt Hotel and other projects of privatisation advertisements have been given in the international media as well.

In the board meeting, more institutions were shortlisted for privatisation while discussions were held to ensure prompt progress in this regard.

The meeting of the board was held under the chairmanship of Federal Minister for Privatization, Investment Board and Communications Aleem Khan to finalise the privatisation of various institutions and regarding important issues related to it.

Federal Minister for Privatization Aleem Khan directed that all stakeholders should be kept on board for the privatisation of national institutions and the Privatization Commission should ensure its full cooperation to the companies coming forward with serious offers.

Aleem Khan said that the prime minister wants the privatisation of PIA as soon as possible so there should be no further delay while completing the remaining process in this regard.

He said that the Privatization Commission should attain financial autonomy by reducing its dependence on the federal government and ensure increase in its own resources.

Aleem Khan directed that all proposals for privatisation should be opened in front of cameras in the presence of the media so that there should be no question about its transparency.

Copyright Business Recorder, 2024