ISLAMABAD, Sep 10 (APP):The Cabinet Committee on Privatization (CCoP) Friday approved the summary tabled by the Privatization Commission Board, recommending the highest bid of about Rs 1.96 billion received after auction proceedings for privatization of Services International Hotel, Lahore.
Federal Minister for Finance and Revenue, Shaukat Tarin, presided over the meeting that was attended by Federal Minister for Planning, Development and Special Initiatives Asad Umar, Federal Minister for Privatization Muhammad Mian Soomro, Federal Secretaries, Chairman SECP and other senior officers.
Adviser on Commerce Abdul Razak Dawood joined the meeting through a video link.
Moreover, the Secretary Privatization Commission Board updated the participants about the actions being taken to privatize or restructure entities with respective timelines.
The Finance Minister directed to accelerate the whole process with due diligence in order to bring efficiency into the public sector.
He further stated that the government was firmly committed to the reform agenda focusing on improving the functions of the State-owned Enterprises to make them profitable and sustainable.
