BML 5.01 Decreased By ▼ -0.05 (-0.99%)
BOP 13.08 Increased By ▲ 0.08 (0.62%)
CNERGY 7.12 No Change ▼ 0.00 (0%)
CPHL 87.45 Increased By ▲ 1.38 (1.6%)
DCL 14.34 Decreased By ▼ -0.33 (-2.25%)
DGKC 170.76 Increased By ▲ 1.95 (1.16%)
FCCL 46.76 Increased By ▲ 0.59 (1.28%)
FFL 15.82 Decreased By ▼ -0.10 (-0.63%)
GCIL 26.87 Decreased By ▼ -0.39 (-1.43%)
HUBC 144.18 Increased By ▲ 2.27 (1.6%)
KEL 5.07 Decreased By ▼ -0.05 (-0.98%)
KOSM 6.69 Decreased By ▼ -0.20 (-2.9%)
LOTCHEM 20.59 Decreased By ▼ -0.41 (-1.95%)
MLCF 84.73 Increased By ▲ 0.66 (0.79%)
NBP 121.82 Decreased By ▼ -0.56 (-0.46%)
PAEL 43.46 Increased By ▲ 1.28 (3.03%)
PIAHCLA 22.29 Increased By ▲ 0.33 (1.5%)
PIBTL 8.93 Decreased By ▼ -0.06 (-0.67%)
POWER 14.01 Decreased By ▼ -0.08 (-0.57%)
PPL 169.94 Decreased By ▼ -0.01 (-0.01%)
PREMA 43.39 Decreased By ▼ -0.38 (-0.87%)
PRL 33.11 Increased By ▲ 0.24 (0.73%)
PTC 24.26 Decreased By ▼ -0.33 (-1.34%)
SNGP 119.64 Increased By ▲ 0.34 (0.28%)
SSGC 45.55 Increased By ▲ 0.38 (0.84%)
TELE 8.08 Decreased By ▼ -0.09 (-1.1%)
TPLP 10.47 Increased By ▲ 0.14 (1.36%)
TREET 23.97 Decreased By ▼ -0.18 (-0.75%)
TRG 58.05 Decreased By ▼ -0.80 (-1.36%)
WTL 1.52 Decreased By ▼ -0.03 (-1.94%)
BR100 13,631 Increased By 52 (0.38%)
BR30 39,851 Increased By 184.3 (0.46%)
KSE100 134,300 Increased By 517.4 (0.39%)
KSE30 40,814 Increased By 132.5 (0.33%)

ISLAMABAD: The Privatisation Commission (PC) Board that met Wednesday approved the terms of reference for the hiring of financial advisor for the Roosevelt Hotel.

The board was apprised that the hotel is not being sold. Rather it will be developed into a mixed use high-rise tower as a joint venture project through the best-suited mode of privatisation as delineated in the Privatisation Commission Ordinance, 2000.

The board was also briefed about the progress in other ongoing transactions including Pakistan Steel Mills, HBFCL, and the First Women Bank Limited.

Senate body briefed about privatisation process

Federal Minister/Chairman Privatisation Abid Hussain Bhayo chaired the meeting. Federal Secretary Privatisation Dr Iram A Khan and senior officials of the ministry were also present.

The board was briefed about the implementation status of different directions issued by the board in its different meetings.

The board showed its appreciation for the status update and directed the management to resolve the pending issues besetting privatisation. It also advised that other government divisions should be approached to help the Privatisation Commission in its work.

The board discussed various matters of importance including the pending issues relating to litigations in different courts. The approval of the PC Board was also solicited for the special audit report on receivables as on 30-6-2022 of the PC’s proceeds including the statement of aforementioned receivables. The board proposed to form a sub-committee of its members to come up with a viable solution of the matter including to ascertain the due amounts receivable from other parties.

The board also approved the proposal to present before the court the fresh audit report to decide the exact number of outstanding dues to be paid.

Copyright Business Recorder, 2023

Comments

Comments are closed.