ISLAMABAD: PTI government names 6 organisations to be privatised for Rs 150billion in this fiscal year.
The federal government has decided to privatise six loss-making publicsector enterprises (PSEs) –SMEs Bank, First Women Bank, Haveli- BahadurShah and Balloki power plants, Mari Petroleum Company Limited, ServicesInternational Hotel Lahore, and Jinnah Convention Centre Islamabad – duringthe current fiscal year.
This was shared by Federal Privatisation Minister Mainmuhammad Soomro in apress conference along with Special Assistant to Prime Minister onInformation and Broadcasting Dr Firdous Ashiq Awan and PrivatisationSecretary Rizwan Malik.
The government will sell off these entities to generate more than Rs150billion that would be utilised on debt servicing and public welfareprojects.
Mian Soomro said that the government had received 12 bids for privatizationof National Power Parks Management Company Limited (NPPMCL).
The NPPMCL owns the two power plants: Balloki and Haveli Bahadur Shah,which have a combined generation capacity of 2,453 megawatts. He furthersaid that investors from Japan, Thailand, the United Kingdom, Malaysia andPakistan have submitted documents. “This shows foreign investors are keento invest in Pakistan,” he added.
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The secretary of the Privatisation Commission said that the government hasalso planned to divest up to 7 per cent stakes in the Oil and GasDevelopment Company (OGDC) and 10 per cent shares of Pakistan PetroleumLimited (PPL).
The government has also decided to sell 27 government-owned unproductiveproperties through an open auction in the next two months.
The government had already held roadshows for attracting investors forthese 27 properties. Foreign investors from Dubai and Qatar and overseasPakistanis had expressed interest in buying the properties, he said.
Rizwan Malik said that the government has planned to revive the PakistanSteel Mills through investment from strategic investors, which would helpin reducing the losses of mills.
