Matters related to JCC, SEL, PECO, Federal Govt properties, PSM discussed

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Abid Bhayo chairs first PC board meeting as its chairman

Federal Minister/Chairman Privatisation Commission Abid Hussain Bhayo, chaired the first Privatisation Commission (PC) Board meeting after assuming the charge as a Chairman PC. Federal Secretary Dr. Iram. A. Khan, Board members and senior officials of the Ministry attended the important meeting.

Matters relating to Jinnah Convention Center (JCC), Sindh Engineering Limited (SEL), Pakistan Engineering Co. (PECO), Federal Government properties and Pakistan Steel Mills (PSM) were discussed in detail. The Board members proposed that the privatisation of PECO, SEL and sale of remaining 16 properties of Federal Government should be halted on account of inherent issues faced by these entities.

The Board emphasized that it was doing everything in its power to expedite the privatisation process but had not received requisite support from the other concerned Ministries/Divisions to resolve the issues faced by these entities.

The PC Board was briefed about the current status with regard to the privatisation of Jinnah Convention Center (JCC), The Board was informed that the transaction was halted on account of reservations shown by some, who disagreed with the transaction structure approved for it. CDA Board members.

The Federal Minister Privatisation recently held a detailed meeting to sort out the matter with CDA Chairman and it was mutually agreed that Privatisation Commission in liaison with CDA would devise a viable Lay Out Plan for JCC and PC shall also revise transaction structure in consultation with CDA.

 

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