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The Privatisation Commission Board should ensure extending benefits of
privatisation to maximum possible people particularly the workers and
employees of the entities being privatised. Dr. Abdul Hafeez Shaikh Federal
Minister for Privatisation & Investment issued these instructions while
addressing PC Board meeting held here today.
The Minister said that Pakistan's privatisation process was
pro-employees/workers and pro-poor. The policy of 'Privatisation for the
People' was aimed at to transfer the benefits of privatisation to the
maximum common citizens of the country enabling them to share the ownership of
national assets, he said.
The PC Board approved the recommendations for Initial Public Offering (IPO)
of United Bank Ltd (UBL) to benefit maximum small investors for approval of
the Cabinet Committee on Privatisation (CCOP).
The PC Board also formulated certain recommendations for approval of the CCOP
to further facilitate early privatisation of PTCL, NRL and other entities in
an orderly and transparent manner. The meeting reviewed the implementation of
various decisions and the status of the ongoing and upcoming transactions and
expressed satisfaction over the pace of the process.
The representatives of the respective ministries/ departments, SECP, SBP
and Privatisation Commission attended the meeting.