ISLAMABAD, Jul 27 (APP):Minister for Privatization, Board of Investment and Communications Abdul Aleem Khan on Saturday directed the Privatization Commission Board to ensure the completion of the process for the institutions entrusted to them for privatization as soon as possible and ensure a transparent manner in this regard.
The minister presided over the meeting of the Privatization Commission Board which discussed Issues related to the privatization of DISCOs and other institutions including Pakistan International Airlines (PIA), said a press release.
The minister said that the restoration and strengthening of the country’s economy depends upon the privatization of those countries being run in deficit. He said that the process of privatization will practically reduce the burden on the national exchequer and there is a strong possibility of making the enterprises that are being transferred to the private sector to make them profitable.
He indicated that privatization of PIA is very important as it would express the seriousness of the private sector regarding privatization and it will make it easier for other institutions to be privatized. He expressed satisfaction with the overall performance and observed that all the targets should be achieved on time while final recommendations will be sent to the Cabinet Committee for final approval.
Privatization Commission Board unanimously decided that in the first phase, three power generation companies DISCOs will be privatized for which practical work has already been started and all legal matters will be completed by January 2025.
Moreover, the Privatization Commission Board also approved hiring Financial Advisers for these DISCOs and move forward accordingly.
The meeting of the Privatization Commission Board was attended by the Federal Secretary for Privatization, the members of the PCB and the senior officers who unanimously approved the important decisions related to the privatization.
