Services International Hotel to be auctioned on August 26

Staff Reporter

The Ministry of Privatisation has planned the auc-tion of Services International Hotel Lahore (SIH) on August 26.

The property is located on Mall Road, Lahore, the investors have the choice to exercise mix use option while developing the property.

The current value of Rs 1.949 billion has been fixed and duly approved by the Federal Cabinet, said a press release issued here on Tuesday.

The privatisation program is an integral part of the governance reforms agenda, this will enable these state owned enterprises to gradually wean from dependence on the government.

It will also enable the government to spend more on the social sector and thereby giving masses better facilities of life.

Meanwhile, Federal Minister for Privatisation said that we hoped that the transaction of SIH was com-pleted in a best possible manner, while ensuring transparency and openness.

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