Federal Government has privatized 5 state institutions worth Rs. 170 billion
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ISLAMABAD (APP): Minister of State and Chairman Privatization Commission, Muhammad Zubair has said the government had privatized five State Owned Entities (SOEs) worth of Rs.170 billion during its current regime.
"Habib Bank Ltd, United Bank Ltd, Allied Bank Ltd, National Power Construction Company and Pakistan Petroleum Ltd are the main entities which have successfully been privatized by the current government," Muhammad Zubair said while talking to APP here.
Pakistan government privatised 5 entities worth Rs. 170 billion in current regime: Chairman PC
He said the government was implementing its policy of privatization with complete transparency in the process.
The Chairman PC said during the privatization process of SOEs, the government took broad-based decisions for ensuring accountability.
Zubair said at the moment nine SOEs including Pakistan Airlines (PIA) and Pakistan Steel Mills were included in the active list of privatization.
He said first of four stages of privatization process of PIA and PSM had been completed while further work on the process was underway.
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He said the Sindh Government had shown its interest to own PSM.
He said because of some technical issues, the process of PIA was delayed and it would be ensured that the whole process would be done under the privatization ordinance.
He said the government was also restructuring some institutions included in the privatization list to enhance their capacity.
The Chairman Privatization said, "we are looking all aspects including financial, legal, human resources and technical process for privatizing any national institution."
Relying to a question, he said State Life Corporation had also been included in the active list of privatization for giving good service to the people.
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The process of privatization takes more time as there were different phases the Privatization Commission had to follow to ensure transparency and accountability.
He said opposition and some sections of media were opposing privatization without any ground, adding after privatization these entities would ensure good services to the people.
