ISLAMABAD: The government has delisted the Trading Corporation of Pakistan (TCP)’s 15-acre plot adjacent to Multan Industrial Estate from the privatisation list with the consent of the prime minister.

Sources said that the decision was taken by the Cabinet Committee on Privatisation (CCoP) on the request of the Commerce Ministry.

The Commerce Ministry in the summary stated that as the TCP wanted to establish cold storage facility on the plot; therefore, it is proposed the property may be delisted from the privatisation list by the CCoP.

The committee approved the proposal and allowed six months’ time to the TCP to work out the feasibility of the project and finalised details of the project proposed on the Public-Private Partnership (PPP) mode with the Pakistan Fruits and Vegetable Exporters Association (PFVEA) and other trade associations on the expo centre at Multan.

Giving background, the CCoP was informed that the Privatization Commission entered into a settlement for the plot, clear of all encumbrances and offered for auction the plot on 16.09-2020, but no one participated in the auction process.

In the meantime, the process was initiated by the TCP for the establishment of the cold storage facility on the same property as per the requirements of the area and in consultation with the PFVEA on PPP mode.

In this regard, a Preliminary Feasibility Report has been prepared by TCP.

Copyright Business Recorder, 2022