Privatization Commission Board to form Negotiating Committee for privatisation of institutions

ISLAMABAD: Privatization Commission Board under the chairmanship of Federal Minister for Privatization, Board of Investment and Communications Abdul Aleem Khan decided to form a Negotiating Committee for the privatisation of institutions.

The Federal Minister for Privatisation on Monday directed that the process of privatisation should be completed in the atmosphere of competition and the goal of success be ensured so this process can be ensured as transparent as possible.

While presiding over the 225th session of the Privatization Commission Board, Aleem Khan said that after privatization of the institutions marketing and the sales sector of those departments should remain on high pitch. He added that these institutions being privatised should be successful in addition to earning revenue for the government. In the meeting of the Privatization Commission Board, instructions were issued by the federal minister to the department that the advertisements given in the newspapers for privatisation should be made part of the relevant file.

He added that legal regulations should be implemented fully in the process of privatization.

In the meeting, issues related to the privatisation of more institutions including Agricultural Development Bank and Utility Stores were also discussed while the appointment of financial advisor also came under discussion.

Apart from this, important decisions were also taken while discussing technical matters in the meeting.

The federal minister invited all the members of the Privatization Commission Board to be more active and participate in the PCB to speed up the process.

Briefing the meeting of the Privatization Commission Board, the federal secretary said that all relevant issues have full legal protection; therefore, all the process is being carried out as per the rules.

Members of the Privatization Commission Board approved various decisions including the proceedings of the previous meeting of PCB.

Copyright Business Recorder, 2024