‘Seven govt-owned entities to be privatised by May-June this year’

ISLAMABAD: Prime Minister Imran Khan was told on Wednesday that the process of privatising seven institutions and properties would be completed this year and the transactions would be completed by May and June.

Briefing a review meeting about progress on the privatisation of various government institutions and properties, chaired by Prime Minister Khan, the Privatisation Division secretary told the participants that these institutions include two RLNG power plants, SME Bank, International Portal Lahore, Jinnah Convention Centre Islamabad, besides 27 government lands.

The Prime Minister directed that all possible efforts must be made to complete the privatisation process in stipulated timeframe. He said in this context inter-ministerial coordination should be further improved so that quick action could be taken on all unresolved affairs as well as removing hurdles in the process. Khan said privatisation of non-profitable institutions and unused government properties was in the national interest as it would not only reduce burden on the national exchequer but would also procure financial resources for social and welfare development projects.

The meeting was attended by Minister for Planning Asad Umar, Minister for Privatisation Mian Mohammad Soomro, Adviser on Finance Dr Abdul Hafiz Shaikh, Adviser on Commerce Abdul Razak Dawood, Adviser on Reforms Dr Ishrat Hussain, Special Assistant to the Prime Minister on Information Dr Firdous Ashiq Awan and senior officials concerned.