Prime Minister For Privatization Of Identified Institutions Within Time-frame
Muhammad Irfan Published November 15, 2019 | 11:31 PM
Prime Minister Imran Khan Friday directed the Ministry of Privatization to conclude the privatization of the already identified institutions within the time-frame, assuring for the provision of all out resources to get the process accomplished
Addressing a meeting to review the progress on the privatization, the prime minister directed all the ministries, associated with the privatization process, to extend their maximum cooperation and contribution to the process.
He also called for keeping the Prime Minister's Office updated on the progress in the privatisation and removing all the bottlenecks immediately.
Minister for Privatization Mohammed Mian Soomro, Finance Advisor Abdul Hafeez Shaikh, Special Assistants to Prime Minister Nadeem Babar, Dr Firdous Ashiq Awan and Syed Zulfiqar Ali Bukhari besides Secretary Privatisation Rizwan Malik and other senior officers attended the meeting.
The Secretary Privatization presented to the Prime Minister a report on the progress in the privatization of public entities.
Briefing the Prime Minister, he said the privatization process included the organizations which had either been inflicting constant loss to the national kitty or performing below the capacity. Moreover, the public properties which had been lying unused or making no profit for years had also been included in the list, he added.
The Prime Minister was apprised that the preparation for the privatization of Haveli Bahadur Shah Power Plant, Balloki Power Plant, SME Bank, Services International Hotel Lahore and Jinnah Convention Center was in final stage.
The international parties had also shown their interest in the privatization of the said entities, he added.
Moreover, he said the privatisation process of Guddu Power Plant, Nandipur Power Plant, First Women Bank, Pak Petroleum Limited and State Life Corporation had also been initiated.
The Federal Secretary also apprised the meeting about the sale of the valuable properties held by different ministries and government departments.
In his remarks, the Prime Minister said it was among the government's priorities to enhance the non-tax revenue.
He said the objective of the privatization was to save the national kitty from future losses besides handing over the low-performing institutions to the capable hands to exploit their true potential.
The Prime Minister ruled out the impression that through the privatization process, the government was trying to get rid of the loss-making organizations. He said the privatization process would help improve the performance of the organisations concerned which had not been doing well since years owing to blithe lack ofconcern by the respective governments.
The Prime Minister viewed that the privatization would increase the government's receipts particularly the non-tax revenue to help the government launch the more public welfare projects in education, health sectors and provide amenities.
Related Topics
Recent Stories
Senate continues discussion on Presidential address to Joint Sitting of Parliame ..
Masood Khan calls for Pak-US cooperation for regional peace
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
More Stories From Pakistan
-
Education deptt holds awareness walk for enrolment of children in schools
9 minutes ago -
Governor KP says research in health sector vital for healthy society, rooting out diseases
28 minutes ago -
Laos launches vaccination campaign to protect children from measles, rubella
28 minutes ago -
Elements involved in corruption, criminal negligence be held accountable: PM
29 minutes ago -
Labourer's body exhumed to fix death cause
39 minutes ago -
Joints teams of PESCO, FIA held power pilferers; recovered huge amount from defaulters
39 minutes ago
-
Senate continues discussion on Presidential address to Joint Sitting of Parliament
44 minutes ago -
Masood Khan calls for Pak-US cooperation for regional peace
48 minutes ago -
Interior Minister starts Margalla Trail Patrol for security
52 minutes ago -
Speaker NA directs ministries to ensure their officials' presence in the house
1 hour ago -
Senior journalist Waseem Shehzad robbed
1 hour ago -
Commissioner for strict action against parents over not administering polio vaccine to kids
1 hour ago