‘Transparent privatisation of state entities among govt’s top priorities’

ISLAMABAD: Transparent privatization of state-owned enterprises is one of the major priorities of the current government and shall be successfully undertaken with due regard to every possible minutiae.

This was said by Aviation and Privatization Minister Muhammad Mian Soomro who was chairing a meeting of the Board of Privatization Commission in Islamabad on Thursday.

The meeting was attended by Privatization Secretary Rizwan Malik as well as the board members of the Privatization Commission.

The minister was briefed about the progress made in the privatization process of a number of state-owned enterprises, including Mari Petroleum, SME Bank and First Woman’s Bank.

The process of other state-owned entities that are to be privatized on a priority basis was also discussed. These included Services Hotel and Convention Centre, Islamabad.

The minister was apprised of the current status of the privatization for each entity. Soomro ordered the commission to ensure that every step with regard to privatization remains transparent and financially feasible.

The meeting also confirmed the minutes of the third meeting of the Privatization Commission Board which was held on 18th December 2018. It also reviewed the status of decisions taken during the said meeting. The appointment of Privatization Commission consultants was also discussed.

Another major decision made in the meeting was regarding the approval of a consortium, led by Credit Suisse, to act as financial consultants for the privatization of the RLNG power plants.

It was also decided in the meeting that a steering committee, headed by the privatization minister, shall oversee the implementation process of privatization.

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  1. What is the criteria of transparent privatization? If you cease the privatization Commission today with zero cost to public exchequer and also the state enter prizes i.e public assets, what is the cost benefit analysis to this version? Worthy minister must give a cool hearten thought to this narrative. A similar thought i.e cost benefit analysis must be given to this narrative for the last two /three decades of existence of privatization commission.

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