From Abid Usman
LAHORE: Federal Minister for Privatization Mohammed Mian Soomro said on Wednesday the government had a plan to incur Rs 100 billion through privatization of 19 public sector departments during the current fiscal year.
Those departments would be privatized include: Steel Mill, Mari Gas Field, Convention Centre Islamabad, Services Hotel, SME Bank, PPL, Guddu Power Plant and other Power companies.
Talking to the media during the second phase of auction of the state owned properties at a local hotel, the federal minister said the privatization was being carried out as per the plan and Privatization Ordinance, adding the third phase auction of government properties would be held in Gujranwala. He said the main purpose of auction was to reduce the burden of debt of the country and raise the living standard of the people.
He said the government had to face some financial problems due to COVID-19, adding the government now on the track of progress and the exports of the country were increasing.
To a question, the Minister said the PTI government was taking effective measures to meet the requirements of Financial Action Task Force (FATF) to come out of grey list.
He said the China-Pak Economic Corridor (CPEC) was moving ahead as per its plan and CPEC Authority Chairman Lt Gen (Retd) Asim Saleem Bajwa had already stated about the project. There would be no repercussions of All Parties Conference (APC) on the government, he said and suggested the opposition to work together with the government for the development of the country.
Later, the second phase of auction of the government properties was held under the supervision of Federal Minster Mohammed Mian Soomro, during which, 13 properties were auctioned in the provincial capital and raised Rs 179.354 million against the reserved price of Rs 175 million.
The auctioned properties include: three shops at Vouge Tower MM Alam road, 9 flats at Shama Apartments on Ferozepur road and WAPDA leftover building at Nicolson road.
Agencies add: Pakistan Steel Mills, Mari Gas Field and Convention Centre Islamabad have been among the state-owned entities that will be privatized, said Privatization Minister Muhammad Mian Soomro on Wednesday.
Federal Minister for Privatization Muhammad Mian Soomro was talking to media here in a gathering.
Soomro said that the government is implementing privatization of state-owned entities according to a plan denying any uncertainty in this respect.
The privatization of these government entities will be held according to the relevant ordinance while keeping transparency, the minister said.
Pakistan Steel Mills, Mari Gas Field and Convention Centre Islamabad, Services Hotel, SME Bank, PPL, Guddu Power Plant and power companies have been in the list of 19 state-owned entities that will be offered for privatization, Soomro said.
“The government has set a target of 100 billion rupees revenue from privatization of these entities this year,” privatization minister said.
Pakistan International Airlines’ Roosevelt hotel in New York will be given on lease, the minister further said.
Two power distribution companies have also been included in the privatization list, he said.
The government will devise a mechanism for privatization of Pakistan Steel Mills. “A proposal also under consideration to sell the steel mills after payment of arrears against it”, the minister said. Privatization process has been continued across the world and it not being rolled back anywhere, Soomro said.
