PC BOARD APPROVES BASIC PARAMETERS FOR NEW PRIVATISATION POLICY
 

Islamabad, January 26, 2009

A meeting of the members of the Board of Privatisation Commission held here today under the chairmanship of Syed Naveed Qamar Federal Minister for Privatisation approved the basic parameters of the new Privatisation Policy, which envisages to associate strategic investors from the private sector for Public Sector Entities through Public Private Partnership mode to bring in best practices and the latest technologies to improve the performance and increase efficiencies.

The concept of Public Private Partnership (PPP) was reviewed and discussed in detail and it was decided that while ensuring the transparency all other aspects should be safeguarded through comprehensive documentation. This will enable the government to maximize the value of its equity. The basic objective of the new policy is to put national resources and assets to optimal use and in particular to unleash the productive potential inherent in Pakistan’s State Owned Enterprises (SoEs).

The PC board also decided that while obtaining approval of the new policy from the Cabinet Committee on Privatisation (CCOP) the entities on the Privatisation list may be reprioritized and processed in accordance with the approved policy.

To implement the policy announcement to empower the employees of SoEs by giving them shares in their respective units, the recommendations of a committee for appointment of a lead manager for this task were considered and were conditionally approved.

The PC board formed a Committee to examine and identify the outstanding claims pertaining to GHS/ VSS and gratuity of the workers of the privatised units.

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