PM for privatization of identified institutions within time-frame

• The public properties which had been lying unused or making no profit for years had also been included in the list.
• The international parties had also shown their interest in the privatization of the said entities.
• Privatisation process of Guddu Power Plant, Nandipur Power Plant, First Women Bank, Pak Petroleum Limited and State Life Corporation had also been initiated.

ISLAMABAD: Prime Minister Imran Khan Friday directed the Ministry of Privatization to conclude the privatization of the already identified institutions within the time-frame, assuring for the provision of all out resources to get the process accomplished.

Addressing a meeting to review the progress on the privatization, the prime minister directed all the ministries, associated with the privatization process, to extend their maximum cooperation and contribution to the process.

He also called for keeping the Prime Minister’s Office updated on the progress in the privatisation and removing all the bottlenecks immediately.

Minister for Privatization Mohammed Mian Soomro, Finance Advisor Abdul Hafeez Shaikh, Special Assistants to Prime Minister Nadeem Babar, Dr Firdous Ashiq Awan and Syed Zulfiqar Ali Bukhari besides Secretary Privatisation Rizwan Malik and other senior officers attended the meeting.

The Secretary Privatization presented to the Prime Minister a report on the progress in the privatization of public entities.

Briefing the Prime Minister, he said the privatization process included the organizations which had either been inflicting constant loss to the national kitty or performing below the capacity.

Moreover, the public properties which had been lying unused or making no profit for years had also been included in the list, he added.

The Prime Minister was apprised that the preparation for the privatization of Haveli Bahadur Shah Power Plant, Balloki Power Plant, SME Bank, Services International Hotel Lahore and Jinnah Convention Center was in final stage.

The international parties had also shown their interest in the privatization of the said entities, he added.

Moreover, he said the privatisation process of Guddu Power Plant, Nandipur Power Plant, First Women Bank, Pak Petroleum Limited and State Life Corporation had also been initiated.

The Federal Secretary also apprised the meeting about the sale of the valuable properties held by different ministries and government departments.

In his remarks, the Prime Minister said it was among the government’s priorities to enhance the non-tax revenue.

He said the objective of the privatization was to save the national kitty from future losses besides handing over the low-performing institutions to the capable hands to exploit their true potential.

The Prime Minister ruled out the impression that through the privatization process, the government was trying to get rid of the loss-making organizations. He said the privatization process would help improve the performance of the organisations concerned which had not been doing well since years owing to blithe lack of concern by the respective governments.

The Prime Minister viewed that the privatization would increase the government’s receipts particularly the non-tax revenue to help the government launch the more public welfare projects in education, health sectors and provide amenities.