MAJOR SHIFT IN PRIVATISATION POLICY AND PROGRAM IN THE OFFING-NAVEED DIRECTS REVAMPING OF POLICY & PROGRAM
 

Islamabad, January 15, 2009

While chairing a meeting of Board of Privatisation Commission here today Syed Naveed Qamar Federal Minister for Privatisation directed the Privatisation Commission for revamping the entire privatisation policy and the program to make it successful and in the best interest of the people and the country.

Syed Naveed Qamar said that the governmentʼs focus would be not to raise the proceeds for budget deficit but to improve the efficiencies, bring in fresh investment by associating the private sector, to increase the revenues and the value of the governmentʼs shareholdings in the entities through Public Private Partnership (PPP) in accordance with the PC law. All future transactions would be taken on PPP basis to achieve these objectives, he added.

The Minister directed the PC to revisit the Privatisation list to reprioritize them for processing in accordance with the new policy, which was being developed before presenting it to the Cabinet Committee on Privatisation (CCOP) for approval. After approval of the policy and program by the CCOP the transactions will be carried out.

The PC Board also discussed matters pertaining to the empowerment of employees of the public sector entities in the light of the Pakistan Peoples Partyʼs manifesto.

Earlier, a committee was formed to formulate its recommendations for the settlement of the long due outstanding proceeds.

Mr. Ahmed Jawad Secretary Privatisation, PC Board members and senior officials and consultants were present during the meeting.