Carry forward process of privatization on fast track basis: Hafeez

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Mohammad Arshad
Islamabad

The Cabinet Committee on Privatization (CCOP), Thursday, allowed hiring of a Transaction Adviser as permissible under the rules regarding Award of Management Contracts for smooth running of DISCOs.

The CCOP met here with Federal Fiannce and Revenue Minister Dr Abdul Hafeez Shaikh in the4 chair and directed to speed up the process of completion of prior actions pertaining to award of Management Contracts for DISCOs and present a roadmap with firmed-up proposals within a week, after seeking requisite approval from the Privatization Commission Board.

The Privatization Division presented various proposals regarding award of management contracts for smooth running of DISCOs in compliance with the earlier directive of the CCOP meeting held on 04 January 2021.

The Management Contracts would improve the service delivery and thus, serve the larger interest of electricity consumers in Pakistan.

In his remarks, the Finance Minister, stressed the need to carry forward the process of Privatization on fast track basis.

The time is of essence in undertaking a well-structured privatization activity to bring in competitive efficiency, improve service delivery and enhance customer satisfaction.

Privatization will diversify sources of income for the Government, generate employment opportunities and contribute towards overall economic growth and development, he added.

The Privatization Division also submitted a compliance report on the implementation status of Public Sector Enterprises (PSE) in Real Estate, Industries, Banking and Finance, Energy and other sectors which are on active Privatization List.

The Committee reiterated the firm commitment of the Government in spearheading the privatization process with transparency and fairness in consultation with stakeholders.

The Finance Minister urged to observe the timelines and carry forward the whole process expeditiously, he concluded.

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