ISLAMABAD - Senate Standing Committee on Privatisation on Wednesday decided to summon officials of Capital Development Authority (CDA) to listen their concerns on the privatisation of Jinnah Convention Centre, Islamabad.
The parliamentary committee, which met under the chair of Senator Shamim Afridi, has discussed the privatization of Jinnah Convention Centre (JCC), Islamabad. The committee was informed that JCC was included in privatization list in 2018. However, private members in CDA board had opposed the decision of privatization. They were of the view that issue should be discussed with Prime Minister. Later, then Finance Minister Shaukat Tarin summoned a meeting in this regard. However, the meeting was not hold due to the change in government.
Committee chairman noted that JCC is an important asset of the country. He recommended that JCC should be properly utilised after renovation instead of privatising it. Senator Anwar –ul-Haq said that convention centres in other countries are designed beautifully, which showed their traditions. He criticized the CDA for just constructing a building for JCC instead of properly decorating it. He recommended that parliamentarians should also be made part of the CDA’s board. Later, the committee decided to summon the officials of CDA to listen their concerns on the privatisation of JCC.
It is worth mentioning here that the federal cabinet had already approved privatisation of the JCC property spreading over 7.59 acres, including built-up structure of 4.13 acres land, through competitive building. The privatisation of JCC hangs in the balance due to the differences of the CDA and the Privatisation Commission on the land of loss-making entity. The CDA board has objected on the privatisation of JCC on the ground that the existing footprint area should be kept intact. However, the Privatisation Commission stated that the total footprint covered area approved was 70 per cent of the plot size. According to the Privatization Commission, the federal cabinet has provided the option to retain the existing structure or not to the new investor. The Privatisation Commission had asked the CDA to realise the sensitivity of the entire process and its repercussions. It explained that where the pre-qualified parties are already shortlisted and any bottlenecks at this stage are likely to diminish the confidence of investors.
However, officials in Privatization Commission informed that new government might discuss the issue to expedite the process of privatization. Senate Standing Committee on Privatization has also discussed the audit paras of the Privatization Commission (PC). It was informed that there were 13 audit paras of the PC for the year fiscals 2018-19 and 2019-20.
However, the PC has replied to the most of paras. Meanwhile, there was no audit conducted of PC of the previous fiscal year 2020-21.
The parliamentary committee, which met under the chair of Senator Shamim Afridi, has discussed the privatization of Jinnah Convention Centre (JCC), Islamabad. The committee was informed that JCC was included in privatization list in 2018. However, private members in CDA board had opposed the decision of privatization. They were of the view that issue should be discussed with Prime Minister. Later, then Finance Minister Shaukat Tarin summoned a meeting in this regard. However, the meeting was not hold due to the change in government.
Committee chairman noted that JCC is an important asset of the country. He recommended that JCC should be properly utilised after renovation instead of privatising it. Senator Anwar –ul-Haq said that convention centres in other countries are designed beautifully, which showed their traditions. He criticized the CDA for just constructing a building for JCC instead of properly decorating it. He recommended that parliamentarians should also be made part of the CDA’s board. Later, the committee decided to summon the officials of CDA to listen their concerns on the privatisation of JCC.
It is worth mentioning here that the federal cabinet had already approved privatisation of the JCC property spreading over 7.59 acres, including built-up structure of 4.13 acres land, through competitive building. The privatisation of JCC hangs in the balance due to the differences of the CDA and the Privatisation Commission on the land of loss-making entity. The CDA board has objected on the privatisation of JCC on the ground that the existing footprint area should be kept intact. However, the Privatisation Commission stated that the total footprint covered area approved was 70 per cent of the plot size. According to the Privatization Commission, the federal cabinet has provided the option to retain the existing structure or not to the new investor. The Privatisation Commission had asked the CDA to realise the sensitivity of the entire process and its repercussions. It explained that where the pre-qualified parties are already shortlisted and any bottlenecks at this stage are likely to diminish the confidence of investors.
However, officials in Privatization Commission informed that new government might discuss the issue to expedite the process of privatization. Senate Standing Committee on Privatization has also discussed the audit paras of the Privatization Commission (PC). It was informed that there were 13 audit paras of the PC for the year fiscals 2018-19 and 2019-20.
However, the PC has replied to the most of paras. Meanwhile, there was no audit conducted of PC of the previous fiscal year 2020-21.
