*ISLAMABAD: Finance Minister Asad Umar chaired meeting of the CabinetCommittee on Privatization (CCOP) here Tuesday.*
The Secretary Privatization Commission made a detailed presentation to thecommittee on the privatization program pursued by the government over thelast two decades.The committee discussed the objectives and rationale ofthe privatization program.
It was noted that only one entity was privatized during the last fiveyears, apart from divestment of shares in a few already privatized entities.
The committee gave the go-ahead to Privatization Division to undertake theprocess for privatization of newly established 1233 MW Balloki Power Plantand the 1230 MW Haveli Bahadur Power Plant.
The CCOP also approved the proposal for privatization of the followingentities: (i) SME Bank Ltd (ii) First Women Bank Ltd (iii) JinnahConvention Centre, Islamabad (iv) Lakhra Coal Mines (now Lakhra CoalDevelopment Company) (v) Services International Hotel, Lahore.
Read Top Stories
The committee noted that the listing of a large number of entities on theprivatization list for more than a decade had been detrimental to theiroperations as these were neither privatised nor any serious effort wasundertaken to revitalize them.
After detailed deliberations, it was decided to delist Pakistan SteelMills, PIA, Pakistan Railways, Utility Stores Corporation, NHA and CAA fromthe Privatization list.
