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ISLAMABAD, Jul 14 (APP):The National Assembly Standing Committee on Privatization met on Monday under the Chairmanship of Muhammad Farooq Sattar and reviewed different agenda items.
The representative of the Ministry of Finance informed the committee that a sum of Rs 3 billion has been approved for Postal Life Insurance Company Limited (PLICL) and Rs 3 billion will be given in third and fourth quarters of the current financial year, as directed by the Standing Committee.
The committee was informed that the pre qualification committee finalized the following four parties including a consortium comprising Lucky Cement Limited, Hub Power Holdings Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited for the Pakistan International Airlines Company (PIACL).
The Consortium comprising Arif Habib Corporation Limited, Fatima Fertilizers Company Limited, The City School (Private) Limited, and Lake City Holdings (Private) Limited and Fauji Fertilizer Company Limited and Air Blue was also finalized.
These parties will be given access to virtual data room of PIACL.
The Committee passed the Privatization Commission (Amendment) Bill, 2024—a government bill—by a majority vote.
The Members of National Assembly including Anwar Ul Haq Chaudhary, Chaudhry Mehmood Bashir Virk, Abdul Qadir Khan, Ms. Saba Sadiq, Nazir Ahmed Bhugio, Nauman Islam Shaikh, Ms. Sehar Kamran, Arshad Abdullah Vohra, Sanjay Pirwani, Muhamad Saad Ullah, Mehboob Shah, Zulfiqar Ali, Moulana Abdul Ghafoor Haideri besides the officials of the ministry attended the meeting.