AIRLINK 58.74 Increased By ▲ 0.75 (1.29%)
BOP 6.20 Decreased By ▼ -0.02 (-0.32%)
CNERGY 3.95 Decreased By ▼ -0.10 (-2.47%)
DFML 16.08 Increased By ▲ 0.38 (2.42%)
DGKC 67.48 Decreased By ▼ -1.07 (-1.56%)
FCCL 17.59 Decreased By ▼ -0.16 (-0.9%)
FFBL 25.91 Increased By ▲ 0.16 (0.62%)
FFL 9.17 Decreased By ▼ -0.14 (-1.5%)
GGL 9.82 Increased By ▲ 0.08 (0.82%)
HBL 112.95 Increased By ▲ 1.15 (1.03%)
HUBC 114.99 Increased By ▲ 0.19 (0.17%)
HUMNL 6.58 Increased By ▲ 0.14 (2.17%)
KEL 4.20 Decreased By ▼ -0.10 (-2.33%)
KOSM 3.59 Increased By ▲ 0.01 (0.28%)
MLCF 37.35 Decreased By ▼ -0.05 (-0.13%)
OGDC 116.69 Decreased By ▼ -0.51 (-0.44%)
PAEL 22.74 Decreased By ▼ -0.16 (-0.7%)
PIAA 10.76 Decreased By ▼ -0.59 (-5.2%)
PIBTL 6.22 Increased By ▲ 0.55 (9.7%)
PPL 104.26 Decreased By ▼ -0.99 (-0.94%)
PRL 26.47 Decreased By ▼ -0.08 (-0.3%)
PTC 9.55 Decreased By ▼ -0.05 (-0.52%)
SEARL 52.00 Decreased By ▼ -1.34 (-2.51%)
SNGP 65.15 Increased By ▲ 0.16 (0.25%)
SSGC 10.93 Decreased By ▼ -0.01 (-0.09%)
TELE 7.26 Increased By ▲ 0.10 (1.4%)
TPLP 11.97 Increased By ▲ 0.10 (0.84%)
TRG 77.22 Increased By ▲ 4.51 (6.2%)
UNITY 20.44 Decreased By ▼ -0.29 (-1.4%)
WTL 1.29 Decreased By ▼ -0.02 (-1.53%)
BR100 6,332 Increased By 45.7 (0.73%)
BR30 21,614 Increased By 27.8 (0.13%)
KSE100 61,914 Increased By 355.2 (0.58%)
KSE30 20,851 Increased By 132.3 (0.64%)

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)