PIA, PSM privatisation: Federal government takes the final decision

PIA, PSM privatisation: Federal government takes the final decision

ISLAMABAD - The government has removed 14 State Owned Enterprises (SOEs) including Pakistan International Airlines, Pakistan Railways, and Pakistan Steels Mills from the list of privatization. Senate Standing Committee on Privatization was informed here on Tuesday.

The other SOEs which were removed from the list of privatization included National Bank of Pakistan, Pakistan State Oil Company, Sui Northern Gas Pipeline, Sui Southern Gas Pipeline, Civil Aviation Authority, National Highway Authority, National Logistic Company, Trading Corporation ofPakistan, Printing Corporation of Pakistan, Utility Stores, and Industrial Development Bank.

The meeting of the committee was held here under the chairmanship of Senator Mir Muhammad Yousuf Badini.

The committee was further informed that the government would privatize eight SOEs on priority which include SME Bank, First Women Bank, Haveli Bahadur Power Plant, Parri Petroleum, Lakhra Coal Mines, Services International Hotel Lahore, and Jinnah Convention Center Islamabad.

The committee was told that the government would privatize the SOEs after putting them in profit so that the government could get a reasonable rate.

On the occasion, Minister for Privatization Mian Muhammad Soomro said there was a threat of building circular debts on the SOEs so they would be privatized on priority.

Senator Farooq H Naik said the First Women Bank should not be privatized as it was a symbol of support to women from the government.

The meeting was also briefed in detail about the process of privatization of K Electric.

The meeting was attended by Senators Farooq H Naik, Rubina Khalid, Abida Muhammad Azeem, Secretary Privatization Commission Rizwan Malik, and other officials.