CCoP seeks proposal to divest govt shares in Mari Petroleum

ECC approves Rs300m to set up Pakistan-Iran border markets

ISLAMABAD: The Cabinet Committee on Privatisation (CCoP) on Wednesday directed the Privatisation Commission and Ministry of Petroleum to further examine divestment of the government of Pakistan’s shares in Mari Petroleum Company Limited.

The directions were issued by Federal Minister for Finance and Revenue Shaukat Tarin while chairing a meeting of Cabinet Committee on Privatisation (CCoP) on Wednesday.

Tarin said that the divestment issue should be further examined in light of discussions held during the meeting and ordered the authorities concerned to present a comprehensive proposal in the next meeting of the CCoP.

The committee also discussed the proposal for privatisation of Services International Hotel and after thorough debate, approved the revised reserve price subject to further approval by the federal cabinet.

The CCoP also examined the proposal for removal of Pakistan Engineering Company (PECO) from active privatisation list and directed the constitution of a committee consisting of representatives of Privatisation Commission, Law Division, Establishment Division, Industries and Production Division, Finance Division and Securities and Exchange Commission of Pakistan (SECP) to thoroughly analyse the case and come up with its proposals on issues highlighted in the meeting.

Meanwhile, the Economic Coordination Committee (ECC) of the Cabinet approved Rs300 million for establishment of joint markets at Pakistan-Iran border areas.

The meeting was chaired by Shaukat Tarin and attended by Minister for Privatisation Muhammad Mian Soomro, Minister for Railways Azam Khan Swati, Minister for Industries and Production Makhdum Khusro Bakhtyar, Minister for Planning, Development & Special Initiatives Asad Umar, Minister for National Food Security Syed Fakhar Imam, Adviser to the PM on Institutional Reforms Dr Ishrat Hussain, Special Assistant to the PM on Petroleum Tabish Gauhar, besides federal secretaries and other relevant officials attended the meeting.

The ECC approved the technical supplementary grant of Rs300 million for allocation from Public Sector Development Programme (PSDP) for establishment of joint border markets at Mand, district Kech; Gabd, district Gwadar; and Chedgi, district Panjgur; against Rs100 million each.

The ECC further approved technical supplementary grant for Covid-19 response and other Natural Calamities Control Programme (Sindh component), worth Rs9,393.226 million.

The ECC during its meeting held on Wednesday approved a technical supplementary grant of Rs98.700 million to meet the requirements of Frontier Corps KP (South), DI Khan under Interior Division.

The ECC further approved a technical supplementary grant of Rs25 million for Headquarters Pakistan Rangers Islamabad under Interior Division.  The ECC approved a technical supplementary grant amounting to Rs39.058 million to Pakistan Institute of Development Economics for payment of salaries as well.


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