ISLAMABAD: Prime Minister Shehbaz Sharif has approved the reconstituted Cabinet Committee on Privatisation (CCoP) with Minister for Foreign Affairs Ishaq Dar as its chairman.

The terms of reference of the committee are to formulate the privatisation policy for approval of the government/cabinet and to approve the state-owned enterprises to be privatised on the recommendation of the privatisation commission or otherwise.

The other five members of the committee are the Minister for Finance, the Minister for Commerce, the Minister for Power, the Minister for Industries and Production, and the Minister for Privatisation.

Other participants on special invite for the CCOP are the governor State Bank of Pakistan (SBP), chairman SECP, secretaries of Power Division, Commerce Division, Communications Division, Finance Division, Industries and Production Division, Law and Justice Division, Petroleum Division, Planning, Development and Special Initiatives Division, Privatisation Division and Revenue Division.

Another notification has been issued pertaining to oversee and steer the marketing of outsourcing of airports’ management and privatisation of Pakistan International Airlines Company Limited (PIACL).

The seven-member committee will be headed by Minister for Defence/Aviation. Members of the committee are the Minister for Privatisation/Board of Investment (BoI), Minister for Foreign Affairs, Deputy Chairman Planning Commission, Secretary Aviation Division, Secretary Privatisation Commission, and any other member co-opted by the committee.

The secretarial support will be provided by the Aviation Division. The division will take further necessary action.

Copyright Business Recorder, 2024