ISLAMABAD: The Privatisation Commission on Thursday reviewed the progress on privatisation of state-owned entities (SOEs) targeted to complete in the current financial year. A weekly meeting on privatisation transactions update was called under the chairmanship of Federal Minister/Chairman Privatisation Mohammed Mian Soomro.
For the privatisation of Heavy Electrical Complex (HEC), it was informed that 12 Expressions of Interest (EOIs) have been short-listed for issuance of Request for Statement of Qualification (RSOQ). The commission is anticipating that the transaction of the HEC will be completed by June 2021.
The minister was also informed that the transaction of Services International Hotel, Lahore, is also at an advance stage as all the issues causing delay in the privatisation of the entity have been addressed. The chairman PC was also briefed that 100 percent amount of nine sold government properties was received, and the remaining unsold properties in Rahimyar Khan, Multan, and Swat will be re-auctioned in March 2021.
For bidding for privatisation of the Sindh Engineering Ltd (SEL), the Privatisation Commission planned to re-initiate the process for hiring of the financial advisor (FA) by mid of March 2021. The progress on power plants of the National Power Parks Management Company Ltd (NPPMCL), Pakistan Steel Mills, the First Women Bank, PECO, HBFC, and the SME was also discussed.
Copyright Business Recorder, 2021
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