3 Discos to be privatised in 1st phase: PC board
- The Privatisation Commission Board approves hiring financial advisors for these Discos
ISLAMABAD: Federal Minister for Privatisation, Board of Investment and Communications Abdul Aleem Khan presided over the meeting of the Privatisation Commission Board in which important decisions were taken.
Issues related to the privatisation of Discos and other institutions including PIA came under discussion in the meeting.
The Privatization Commission Board, unanimously, decided that in the first phase, three power generation companies - DISCOs will be privatised for which practical work has already been started and all legal matters will be completed by January 2025.
Moreover, the PCB also approved hiring financial advisors for these Discos and move forward accordingly. Aleem Khan directed the Privatization Commission Board to ensure the completions of the process for the institutions entrusted to them for privatisation as soon as possible and ensure transparent manner in this regard.
He said that the restoration and strengthening of the country’s economy depends upon privatisation of those institutions being run in deficit.
Aleem Khan claimed that the process of privatisation will practically reduce the burden on the national exchequer.
The Federal Minister for Privatization said that there is a strong possibility of making the enterprises that are being transferred to the private sector to make them profitable. He indicated that privatisation of PIA is much 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.
The meeting of Privatization Commission Board was attended by the Federal Secretary for Privatization, the Members of the PCB and the senior officers where they, unanimously, approved the important decisions related to the privatisation.
Federal Minister Abdul Aleem Khan expressed satisfaction on the overall performance and observed that all the targets should be achieved on time while final recommendations will be sent to the Cabinet Committee (CCOP) for final approval.
Copyright Business Recorder, 2024
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