Federal Minister for Privatisation and Investment Dr Abdul Hafeez Shaikh on Thursday said that Kot Addu Power Company (Kapco), UBL and Pakistan State Life Insurance Company would be privatised soon. Talking to newsmen at an Iftar-cum-dinner hosted by Federal Parliamentary Secretary for Local Government and Rural Development Saeed Ahmad Virk here, he said that Karachi Electric Supply Corporation (KESC), National Refinery Limited (NRL), Pak-Arab Fertiliser Limited (PAFL), National Investment Trust (NIT) and Sui Southern Gas Company (SSGC) were also in pipeline for privatisation.
"We are floating the shares in the stock market to help middle income people benefit from ongoing privatisation process," Shaikh said.
He said that the privatisation process in the country that kicked off in early 1990s, yielded Rs 60 billion during the periods of previous governments.
However, he said, the per annum privatisation proceeds had now touched the mark of Rs 30 billion from the previous level of Rs 6 billion.
About PTCL, Shaikh said that 62 percent shares of the telecom company would remain with the government even after the upcoming privatisation.
He said that the present government would continue with its economic reforms agenda to help strengthen national economy and improve the living standards of the people.