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Print Print edition: 2024-07-28

3 Discos to be privatised in 1st phase: PC board

  • The Privatisation Commission Board approves hiring financial advisors for these Discos
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Photo: APP
Photo: APP
By Recorder Report
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ISLAMABAD: Federal Minister for Privatisation, Board of Investment and Communications Abdul Aleem Khan presided over the meeting of the Privatisation Commission Board in which important decisions were taken.

Issues related to the privatisation of Discos and other institutions including PIA came under discussion in the meeting.

The Privatization Commission Board, unanimously, decided that in the first phase, three power generation companies - DISCOs will be privatised for which practical work has already been started and all legal matters will be completed by January 2025.

Private sector’s participation in privatisation of Discos: World Bank agrees to extend financial support under NLTA

Moreover, the PCB also approved hiring financial advisors for these Discos and move forward accordingly. Aleem Khan directed the Privatization Commission Board to ensure the completions of the process for the institutions entrusted to them for privatisation as soon as possible and ensure transparent manner in this regard.

He said that the restoration and strengthening of the country’s economy depends upon privatisation of those institutions being run in deficit.

Aleem Khan claimed that the process of privatisation will practically reduce the burden on the national exchequer.

The Federal Minister for Privatization said that there is a strong possibility of making the enterprises that are being transferred to the private sector to make them profitable. He indicated that privatisation of PIA is much important as it would express the seriousness of the private sector regarding privatisation and it will make it easier for other institutions to be privatised.

The meeting of Privatization Commission Board was attended by the Federal Secretary for Privatization, the Members of the PCB and the senior officers where they, unanimously, approved the important decisions related to the privatisation.

Federal Minister Abdul Aleem Khan expressed satisfaction on the overall performance and observed that all the targets should be achieved on time while final recommendations will be sent to the Cabinet Committee (CCOP) for final approval.

Copyright Business Recorder, 2024

PIA Abdul Aleem Khan DISCOS BOI Federal Minister for Privatisation Privatization Commission Discos privatisation PC Board

Comments

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Shahid Jul 28, 2024 09:03am
Aleen khan is a property dealer what does he know about privatisation
0
Mumtaz Malik Jul 28, 2024 09:57am
The Government of Pakistan's initiative is commendable, but concerns arise about potential electricity rate hikes following privatization. The private sector often prioritizes profit over the needs,
0
Mumtaz Malik Jul 28, 2024 09:57am
The private sector often prioritizes profit over the needs of the economically disadvantaged, exacerbating the burden on those already struggling with high gas and electricity bills.
0
Mumtaz Malik Jul 28, 2024 09:59am
It is crucial for the government to establish a clear policy that distinguishes between different consumption categories, such as households and commercial entities, for up to 400 units.
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Mumtaz Malik Jul 28, 2024 10:01am
This policy should address income tax discrepancies, ensuring that households, even those that are tax filers, receive fair treatment and benefits, unlike the private sector,
0
Mumtaz Malik Jul 28, 2024 10:02am
Ensuring that households, even those that are tax filers, receive fair treatment and benefits, unlike the private sector, which can claim input and output taxes.
0
Danish Ahmad Jul 28, 2024 11:36am
WAPDA, Railway, PIA and Steel Mill plus other state owned organizations are posing existential threat to the country, the country will become bankrupt under these institutions like USSR did in 1991.
0
Ali Jul 28, 2024 11:59am
Nothing is going to happen...
0
Asem Jul 28, 2024 03:13pm
Does this mean, pia stocks will see a downfall this week?
0
Shoaib Jul 28, 2024 04:22pm
A property dealer and land mafia king appointed to sell national assets . What a pity .
0
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