AIRLINK 63.43 Increased By ▲ 0.23 (0.36%)
BOP 5.46 Increased By ▲ 0.06 (1.11%)
CNERGY 4.68 Increased By ▲ 0.11 (2.41%)
DFML 19.02 Decreased By ▼ -0.71 (-3.6%)
DGKC 70.29 Increased By ▲ 1.29 (1.87%)
FCCL 19.12 Increased By ▲ 0.87 (4.77%)
FFBL 30.86 Increased By ▲ 1.47 (5%)
FFL 9.58 Increased By ▲ 0.27 (2.9%)
GGL 10.16 No Change ▼ 0.00 (0%)
HBL 109.20 Decreased By ▼ -0.86 (-0.78%)
HUBC 127.70 Increased By ▲ 1.69 (1.34%)
HUMNL 6.85 Increased By ▲ 0.12 (1.78%)
KEL 4.39 Decreased By ▼ -0.08 (-1.79%)
KOSM 4.43 Decreased By ▼ -0.02 (-0.45%)
MLCF 37.39 Increased By ▲ 0.79 (2.16%)
OGDC 128.50 Increased By ▲ 0.20 (0.16%)
PAEL 22.80 Decreased By ▼ -0.39 (-1.68%)
PIAA 26.50 Increased By ▲ 0.30 (1.15%)
PIBTL 6.19 Increased By ▲ 0.19 (3.17%)
PPL 112.52 Decreased By ▼ -0.28 (-0.25%)
PRL 26.85 Decreased By ▼ -0.30 (-1.1%)
PTC 16.75 Decreased By ▼ -0.34 (-1.99%)
SEARL 60.72 Decreased By ▼ -1.37 (-2.21%)
SNGP 65.35 Increased By ▲ 1.40 (2.19%)
SSGC 11.05 Increased By ▲ 0.02 (0.18%)
TELE 9.10 Decreased By ▼ -0.13 (-1.41%)
TPLP 11.28 Increased By ▲ 0.28 (2.55%)
TRG 69.85 Decreased By ▼ -1.10 (-1.55%)
UNITY 23.65 Decreased By ▼ -0.30 (-1.25%)
WTL 1.31 Decreased By ▼ -0.07 (-5.07%)
BR100 7,280 Increased By 64.2 (0.89%)
BR30 23,637 Increased By 105.1 (0.45%)
KSE100 70,315 Increased By 694.7 (1%)
KSE30 23,132 Increased By 221.5 (0.97%)

ISLAMABAD: Federal Minister for Privatisation, Fawad Hasan Fawad chaired a meeting of Privatisation Commission with HLB Ijaz Tabussum and Company, the financial advisor for the sale of identified properties owned or controlled by the federal government.

Twenty-seven properties owned and controlled by the government were approved for sale through the Privatisation Commission by the cabinet in February 2020.

In the first round of auction in September 2020, 23 properties were auctioned, out of which, sale of 13 properties could not materialise later due to various reasons.

Govt explains magnitude of SOE burden

Currently, 17 properties remain unsold for which services of the financial advisor were hired in December 2021.

The minister took serious notice of shortcomings in the current process and directed the secretary Privatisation Division to review the process in consultation with the financial advisor.

The minister further directed that the properties shall be evaluated again particularly with regard to the title and other possible reasons for the unsuccessful sale in the previous bidding process.

He also directed that responsibility shall be fixed for delays and lapses within the Commission which have resulted in repeated failures of the auction process.

Copyright Business Recorder, 2023

Comments

Comments are closed.

Asif Nov 29, 2023 11:21am
The biggest properties of Government is Cantt in lahore and Karachi . These vast swathes of land in the middle of two biggest cities of Pakistan are worth trillions. Those who are presently occupying these land should be relocated out of the city . No where in the world military bases or cantonments are located in the heart of the city .
thumb_up Recommended (0)
Twain pen di Nov 29, 2023 12:19pm
useless acrobatics.
thumb_up Recommended (0)
KU Nov 29, 2023 01:27pm
This news about the periphery of properties owned by the government, BR should make an effort to give details and whereabouts of these properties.
thumb_up Recommended (0)
Lisqatali Dec 02, 2023 09:45pm
,PIA and Pakistan steel mills were all doing well till Musharaf govt, but political govts inducted incapable people in these State owned businesse and plunged it into losses. Absence of responsibility and accountability is the main reason for devastation of PIA which was a symbol of pride great people to fly with.
thumb_up Recommended (0)
Waheed ud din Dec 04, 2023 12:24pm
PM Advisor comments of fixing responsibility for for delay and lapses in privatization process is good example of govt. Assets privatization. For God sake why are you in hurry? You are care taker.
thumb_up Recommended (0)