In a notable shift, the Privatization Commission has announced its decision to return 320 million shares of Oil and Gas Development Company Limited (OGDCL) after a decade of holding them.
Initially, these shares were transferred to the commission with the intention of selling them to a friendly nation, aiming to boost foreign investment and reinforce economic relations.
The Cabinet Committee on Privatization (CCoP) is scheduled to meet on August 2 to discuss this development, along with two other significant matters. Among the key agenda items, the committee is expected to approve an Rs8 billion budget for the privatization program and the operational expenses of the Privatization Commission for the current fiscal year.
This budget is crucial for advancing the government’s initiatives to streamline and enhance the efficiency of state-owned enterprises.
