ISLAMABAD: The Federal Minister for Privatisation, Fawad Hassan Fawad, met Sohail Ilahi, CEO Kiran Builders & Developers (Pvt) Ltd and handed over the mutation deed of the FBR land situated at Faisalabad to him in his office on Friday.

The land measuring 15 kanals situated at Faisalabad was auctioned by the Privatisation Commission in September 2020 on behalf of the Federal Board of Revenue (Customs Department), while the full payment was made in February 2021.

The transaction faced legal issues from the Government of Punjab and the land could not be transferred to the successful buyer.

Privatisation process initiated to make govt entities profitable: Fawad

The Privatisation Commission made persistent efforts to resolve the bottlenecks and obtain necessary NoCs from the Board of Revenue Punjab.

Due to the personal efforts of the Minister for Privatisation, the land was successfully mutated on September 20, 2023.

The buyer expressed his gratitude to the Privatisation Commission, particularly, to the federal minister and the secretary, for their personal efforts. He further said that such proactive measures by the PC enhances confidence.

Copyright Business Recorder, 2023