Swift privatization of loss-making SOEs crucial: Minister

August 30, 2024 (MLN): The privatization of loss-making State Owned Entities is the priority so this important issue should be dealt with quickly according to rules and regulations, Federal Minister for Privatization, Board of Investment and Communications Abdul Aleem Khan stated.

He added that the process of privatization is having positive impact on the country's economy and the rating of "Moody's" is a clear proof of it.

Federal Minister for Privatization Abdul Aleem Khan was presiding over the 223rd meeting of Privatization Commission Board in which various issues and aspects of privatization including PIA Roosevelt Hotel were discussed in detail.

Federal Minister Abdul Aleem Khan said there is no doubt that Privatization will reduce the burden on the national exchequer that's why more State Owned Entities are being listed for privatization.

He asked for the timely preparation of documents which is of utmost importance and where it is necessary the process of secrecy related to the transactions of privatization should be ensured by all means.

Federal Minister Abdul Aleem Khan directed that the formalities of privatization be completed in a phased and transparent manner for which the Privatization Commission Board will resolve the issues with mutual consultation keeping in view the wider national interest.

Federal Secretary Privatization briefed the PC Board Meeting on the technical issues of privatization tabled different proposals regarding Privatization and expressed their views and suggestions regarding different issues.

Federal Minister Abdul Aleem Khan observed that in the light of the recommendations of the Privatization Commission Board final decision will be taken by the Cabinet Committee.

The meeting of Privatization Commission Board also approved the proceedings of the previous meeting of PCB.

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