ISLAMABAD: Minister for Privatisation, Board of Investment and Communications Abdul Aleem Khan on Saturday directed the Privatisation Commission Board to ensure the completion of the process for the institutions entrusted to them for privatisation as soon as possible and ensure transparency in this regard.
The minister presided over the meeting of the Privatisation Commission Board, which discussed issues related to the privatisation of power distribution companies 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 privatisation of those institutions running in deficit. He said that the process of privatisation will practically reduce the burden on the national exchequer and there is a strong possibility of making the enterprises being transferred to the private sector profitable, the official news agency reported.
He indicated that privatisation of PIA is very important as it would express the seriousness of the private sector regarding privatisation and it will make it easier for other institutions to be privatised.
Abdul Aleem Khan 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.
The Privatisation 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 Privatisation Commission Board also approved hiring financial advisers for these discos and move forward accordingly.
