Punjab Cabinet, which met here on Saturday with Chief Minister Shahbaz Sharif in the chair, approved privatization of Quaid-e-Azam Solar Power (Pvt) Ltd. The Chief Minister directed for formation of standing committee of the cabinet to monitor privatization process of the company. The cabinet meeting also approved setting up of 'Punjab Thermal Power Company Ltd' for new power project of 1200MW capacity and the names of Board of Directors of the company.
The Cabinet also approved amendments in Punjab Servants Housing Foundation Act 2004, amendment in 12th Schedule of Provincial Motor Vehicles Ordinance 1965 and Punjab Zakat & Usher Act 2016. The report of Punjab Pension Fund for June 30, 2013 was presented before the cabinet, which gave approval to present this report before Provincial Assembly of Punjab.
The meeting also approved amendment in Weights and Measures International Enforcement Rules 1976 and it also approved the step of measures for domestic borrowing. Addressing the meeting, the Chief Minister said that setting up of industries is not the job of the governments; governments make policies to provide facilities to the people.
He said Prime Minister Muhammad Nawaz Sharif in 2013 had promised with the nation to end energy crisis and under the leadership of the prime minister untiring efforts have been made for this purpose. He said that Punjab government, to give practical shape to this promise of the prime minister, installed 100 MW solar project at Quaid-e-Azam Soalr Park Bahawalpur and this project inaugurated in 2015 has given profit of more than two billion rupees so far and now privatisation of this project has been decided with the approval of provincial cabinet. He said with the privatisation of this project, we will also get profit earned from this project besides expenditures.
Shahbaz said investors have expressed interest in this project and the privatisation of this project will be transparent and will be carried out in front of cameras and everything regarding privatization will be crystal clear for the public. He said the process of privatization has been unanimously approved by the cabinet according to which, the privatization will be carried out under strategic sale.
He said that privatisation of this project will be carried out in a very professional manner and from the start to the current situation this project has been carried out in a very transparent way and this is the model which should be followed in every department and institution and this model will be promoted. "No country can make progress without transparency, professionalism and utilizing competent human resource," he said.
He said institutional system should be strengthened to improve the system and ministers should enhance capacity of their departments. He said we should transfer such legacy to our generations that they can be proud of. The cabinet meeting also praised Finance Minister Ayesha Ghaus Pasha, Malik Nadeem Kamran, Chief Secretary, chairman Planning and Development, Secretary Finance and entire team for presenting excellent budget for 2017-18. Provincial Ministers, Advisers, Special Assistants, Chief Secretary, secretaries of concerning departments and senior officials attended the meeting.