Prime Minister Imran Khan has reportedly expressed anger at different ministries for showing reluctance to sharing information about three properties to be disposed of by the Privatisation Division, sources close to the Secretary Privatisation told Business Recorder.
The Privatisation Division has been tasked to establish an asset management cell for disposal of identified properties, free from all encumbrances by the concerned Ministries/Divisions. In this regard, the following structure would be required to put in place in the Privatisation Commission: (i) Director General - to be hired on deputation basis from CDA/Housing & Works/Federal Land Commission etc; (ii) Director (Real Estate) - to be hired on deputation basis from CDA/Housing &Works/Federal Land Commission etc; (iii) Deputy Director (Real Estate) - to be hired on deputation basis from CDA/Housing & Works/Federal Land Commission; (iv) Consultant (Real Estate)(02) - to be hired from open market (process already initiated); (v) Legal Advisor (real estate) - in house arrangement; and (vi) supporting staff - Technical Assistant (03), LDC(02)- in house arrangement.
The Cabinet, in its meeting held on March 7, 2019 directed all Ministries/Divisions to identify three properties each, free of all encumbrances having clear documents of the properties for the purpose of their disposal. Accordingly, the Cabinet Division/Ministry of Privatisation sought the following information from the concerned quarters, with the request to be furnished by March 12,2019: (i) clean and clear title documents; (ii) possession status;(iii) any litigation issues;(iv) applicability of local by-laws;(v) respective District Collector's table value;(vi) purpose of use; and (vii) any other information deemed necessary.
The Cabinet in its meeting on March 19, 2019 observed that 36 Ministries/Divisions had responded, of which 19 had given "nil" report, The details of 44 properties received from 17 Ministries/Divisions were shared with the Cabinet.
It was revealed that specific response of three properties along with requisite information/documents is still awaited from the following Ministries/Divisions;(i) Commerce Division;(ii) Ministry of IT & Telecom; (iii) National Food Security and Research Division; (iv) Petroleum Division; (v) Ministry of Religious Affairs & Interfaith Harmony; (vi) Ministry of Science & Technology and; (vii) Water Resources Division.
According to the plan, on receipt of required information from concerned Ministries/Divisions, the committee after due scrutiny, would recommend the properties free from all encumbrances for disposal to Privatisation Commission/Cabinet. Subsequently, the Privatisation Commission will initiate necessary steps for disposal, ie, valuation of the properties from reputed valuators enlisted in category A maintained by the State Bank of Pakistan, following due process as outlined below: (i) valuation of identified/recommended properties/assets to establish reference price for disposal; (ii) approval of reference price by competent forum, ie, Privatisation Commission Board/CCoP/Cabinet; (iii) invitation of bids from interested parties as per PPRA Rules; (iv) evaluation of bidding process by the committee; and (v) final approval for sale proceeds by competent forum, ie, PC Board/CCoP/Cabinet; and (vi) final closure.
The Cabinet was further informed that the data provided by different Ministries/Divisions needed further clarity on various important aspects related to the identified assets. It was suggested that in order to proceed further in the matter, the concerned Ministries/Divisions need to take responsibility and identify in clear terms the properties/assets available for disposal.
According to sources, the Cabinet took serious note of the report that a large number of Divisions have yet to submit the required information and stressed the need for compliance of its earlier direction on the matter.
The Prime Minister conveyed his displeasure on delay in finalising this exercise and desired that every Minister will present three properties each, with market value, free from all encumbrances for the purpose of their disposal, in the next Cabinet meeting.
The ministers will also identify the obstacles in their respective ministries which are causing hindrance in disposal of the assets through privatisation at the desirable pace and resolve priority. In case of failure to do so, the ministers shall refer such cases to the already constituted committee, which would provide requisite assistance to resolve the issue(s).
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