Hafeez Shaikh directs PC to present all privatisation plans within one week

ISLAMABAD: Finance and Revenue Minister Dr Abdul Hafeez Shaikh has directed the Privatization Commission to present the privatization/management contracts plan of all entities within a week.

He stated this while chairing a meeting of the Cabinet Committee on Privatization (CCoP) on Monday.

Energy Minister Omar Ayub, Adviser to Prime Minister on Institutional Reforms Dr Ishrat Hussain, Adviser to PM on Commerce Abdul Razzaq Dawood, Special Assistant to PM on Revenue Dr Waqar Masood, Board of Investment Chairman Atif Bokhari, State Bank of Pakistan Governor Reza Baqir and other senior officials also participated in the meeting.

The Privatization Division briefed the CCoP regarding privatization status of National Power Parks Management Company Limited (NPPMCL). Different scenarios were presented before the committee for changing the capital structure i.e. debt-equity ratio of NPPMCL.

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After detailed discussion, the chair directed the PC to accelerate the privatization/management contracts of all entities, saying that an implementation plan may be presented before the CCoP within a week to proceed further.

He also directed the sub-committee constituted for the NPPMCL to finalize its recommendations and place it before the CCoP accordingly.

Meanwhile, the Finance Division tabled a summary regarding the shareholding structure of Pakistan Credit Guarantee Company (PCGC). The ECC had already endorsed the proposal regarding the same on 24th December 2020. The subject matter was placed before CCoP for further deliberation prior to ratification by the cabinet.

After due deliberation, Hafeez Shaikh directed the Law Division to provide its input in consultation with the Finance Division, Economic Affairs Division (EAD) and State Bank of Pakistan for consideration in the next meeting.

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