Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired a meeting of Cabinet Committee on Privatization (CCoP) on Monday.
The Privatization Commission submitted a summary regarding privatization of Services International Hotel (SIH) and updated the Committee on its privatization process. The CCoP after detailed discussion allowed Privatization Commission to proceed towards successful conclusion of SIH transaction with completion of transfer/mutation process in the name of the purchaser.
The Privatization Commission also presented a summary on privatization of House Building Finance Company Ltd (HBFCL) with one single (pre-qualified) bidder. After detailed deliberations, CCoP decided to allow Privatization Commission to proceed with single source/negotiated transaction for Privatization of HBFCL with sole pre-qualified investor namely Pakistan Mortgage Refinance Company Ltd (PMRCL).
The Privatisation Commission tabled a summary related to Budget Estimates of the Privatization Commission for Fiscal Year 2023-24 to the tune of Rs. 1248.8 million. The CCoP after detailed deliberation approved the summary.
The Privatisation Commission also presented summaries on privatisation of Pakistan Engineering Company (PECO) and privatization of Sindh engineering Limited (SEL) and briefed the
