|
|
|
|
|
The privatisation of public sector entities will remain corner stone of the
government’s economic agenda. Syed Naveed Qamar Federal Minister for
Privatisation said while chairing a meeting of the members of the Board of
Privatisation Commission here today.
The Minister said that the private sector has the capability; expertise and
resources to run the businesses while the government should only focus on
policy matters. The privatisation process brings efficiency, enhances
productions, attracts fresh investments, creates new job opportunities, and
generates revenues for the government, he added.
Syed Naveed Qamar directed the Privatisation Commission to exercise utmost
transparency at all levels while processing the transactions and to provide
level playing field to all the investors.
The PC Board finalized the bidding schedule for the privatisation of National
Power Construction Company (NPCC) and formulated its recommendations for the
approval of the Cabinet Committee On Privatisation (CCOP), which is scheduled
to meet soon. The parties for NPCC include 1. Pak Elektron Limited (PEL), 2.
ICC (pvt) Limited, 3. Al-Tuwariqi Steel Mills, Karachi, 4. Saudi Cable Company
Limited, KSA, 5. JS PE Management, Karachi, 6. Alfanar Construction Company,
KSA and Zad Investment Company, KSA, which are completing the process of due
diligence. The meeting also reviewed the status and progress of various
ongoing and upcoming transactions.
The PC Board members, senior representatives of the respective ministries/
departments and PC officials attended the meeting.