ISLAMABAD - In the important meeting of the Privatisation Commission Board, it has been decided to form a Negotiating Committee for the privatisation of institutions. Federal Minister for Privatisation, Board of Investment & Communications Abdul Aleem Khan, while chairing the meeting, directed that the process of privatisation should be completed in the atmosphere of competition and the goal of success be ensured so this process can be ensured as transparent as possible.
While presiding over the 225th session of the Privatization Commission Board, Federal Minister for Privatization, Board of Investment and Communications Abdul Aleem Khan said that after privatization of the institutions marketing and the sales sector of those departments should remain on high pitch. He added that these institutions being privatized should be successful in addition to earning revenue for the government. In the meeting of the Privatization Commission Board instructions were issued by the federal minister to the department that the advertisements given in the newspapers for privatization should be made part of the relevant file which is also necessary for. He added that legal regulations should be implemented fully in the process of privatization. In the meeting, issues related to the privatization of more institutions including Agricultural Development Bank and Utility Stores were also discussed while the appointment of financial advisor was also came under discussion. Apart from this, important decisions were also taken while discussing technical matters in the meeting. Federal minister invited all the members of the Privatization Commission Board to be more active and participate in the PCB meetings to speed up the process.
Briefing the meeting of the Privatization Commission Board, the federal secretary told that all relevant issues have full legal protection therefore all the process is being carried out as per the rules. Members of Privatization Commission Board approved various decisions including the proceedings of the previous meeting of PCB. The board considered the report of evaluation committee on hiring of financial advisor (FA) for private sector participation in 3 DISCOs namely, GEPCO, FESCO and IESCO and took decisions with regards to adopting the process for hiring of the FA from panel of pre-qualified financial advisors as provided in Regulation 3(2)(c) of Privatisation Commission (Hiring of Financial Advisers) Regulations, 2018. The board also approved initiation of process for hiring of FAs from panel of pre-qualified financial advisors for privatisation of Zarai Taraqiati Bank Ltd. (ZTBL) and the Utility Stores Corporation (USC). The board resolved to ensure maximum competition and utmost transparency in all privatization transactions.