March 12, 2021: Federal Minister for Privatization Mohammedmian Soomro chaired the Privatization Board (PC) meeting today in Islamabad. Privatization board members and senior officers of the Ministry attended the meeting. This was the 2nd Board meeting of the year 2021.
The Board was briefed about the latest progress made in the transactions of different entities including NPPMCL, Pakistan Steel Mills, House Building Finance Corporation (HBFCL), Jinnah Convention Center (JCC), SME Bank, and First Women Bank (FWB). It was briefed that the transactions of Jinnah Convention Center, Heavy Electrical complex, SME bank, and Services International Hotel (SIH) are at advanced stages.
The Board approved the minutes of the previous board meeting. The implementation status of the previous Board meeting was also discussed.
Federal Minister and Chairman Privatisation Commission Board, Mohammedmian Soomro said that the PC Board actively pursuing the timelines for each and every transaction. He appreciated the role of the Board's inefficient decision-making to help the privatization plan. Federal Minister for Privatisation also added that the objective of the privatization program is revenue generation for debt retirement and poverty alleviation.
