SME Bank and the PIA Investment Limited to be privatised: Report

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SME Bank and the PIA Investment Limited to be privatised: Report

ISLAMABAD - The Cabinet Committee on Privatisation has directed to expedite the pace of work on privatization of SME Bank Limited and the PIA Investment Limited.

Meeting of the Committee was held in Islamabad today (Friday) with Adviser to Prime Minister on Finance Dr. Abdul Hafeez Shaikh in the chair.

The committee did not agree to the proposal from Earthquake Reconstruction and Rehabilitation Authority for delisting of its 17 properties from the 32 assets being processed for sale by Privatization Commission.

On the matter of SME Bank, the privatization committee approved a transaction structure submitted by Privatisation Commission for the privatisation of the bank.

The CCoP also discussed privatisation of PIA-Investment Limited and approved a proposal for the constitution of a task force to examine and process all necessary formalities for an early disposal of the PIA properties.

The CCoP also directed the PIA management to update the Committee on monthly basis regarding the progress.