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All the public sector entities involved in the business activity need to be
privatized in a most transparent, open and professional manner at the better
price Mr. Shahzada Alam Monnoo Federal Minister for Privatisation & Investment
stated this while chairing a meeting of the Officers and Consultants of the
Privatisation Commission here today.
The Minister said that the bottlenecks and hurdles in all the transactions
must be removed well in advance in order to get maximum proceeds.
He further stated that the real essence of the privatisation process should be
that after the completion of the process and the transfer of management
control to the successful bidder, the entities should remain the property of
the country.
Mr. Ahmed Jawad, Secretary Privatisation Commission elucidated the salient
features of the ongoing and upcoming transactions, he informed that parties
interested in Heavy Electrical complex (HEC) have been pre-qualified while
pre-qualification process of the parties for Hazara Phosphate & Fertilizers
Limited (HPFL) was under process and the Requests of Statement of
Qualification (RSOQ) received from 32 parties for 26 Motels and Restaurants of
Pakistan Tourism Development Corporation (PTDC) were being evaluated.
The meeting was informed that since the inception of privatisation activity
32000 workers of the privatized units had been given Rs.7.2 billion under GHS/VSS.