Public assets should be made revenue-generating entities: minister

LAHORE: The public assets should be made revenue generation entities instead of privatizing these and the Board of Revenue should provide the details of all privatized assets made under Privatization Act 2010 till now.

The decision of privatization of Quaid-e-Azam Solar Park would be made according to the recommendations of the energy department after analyzing the income and expenditure while the privatization committee should give its recommendations to the Cabinet which will take final decision.

These views were expressed by the Punjab Finance Minister Hashim Jawan Bakhat chairing 22nd meeting of the Cabinet Committee for Privatization. The provincial ministers Irrigation Mohsin Laghari, Agriculture Noman Ahmed Lnagrial, Information and Culture Fayaz Chohan, Chief Secretary Punjab Jawad Rafiq Malik, Secretary Finance Abdullah Sumbal, Senior Member Board of Revenue Baber Hayat Tarar and other official concern also attended the meeting.

The minister observed that it was the responsibility of the government to protect the already limited provincial assets and ensure profitable utilization of these assets for the revenue generation. The issue of the Solar Power Plant could also be discussed with the federal government.

The SMBR briefed the meeting that BOR has transferred 1171 properties to the privatization board under Privatization Act 2010 out of which 497 properties were auctioned. Bidding documents were approved in March 2018 for the privatization of the Quaid-e-Azam Solar Park but it was postponed due to audit and inquiry matters. He pointed out that the government has right to make decision for the privatization of the Solar Park while required information was gathered from the energy department following the instructions of the finance department.

Copyright Business Recorder, 2020