ISLAMABAD: The Cabinet Committee on Privatization (CCoP) formed a technical committee for resolutions of bottlenecks and directed the Aviation Ministry to work with the Privatization Commission to present a detailed action plan with a clear time framework in a sequence.
Caretaker Federal Minister for Finance, Revenue, Economic Affairs and Privatization Dr. Shamshad Akhtar chaired the inaugural meeting of the CCoP today.
Secretary Privatization Commission (PC) presented a detailed briefing on the status of active privatization programme for the reaffirmation by the newly constituted CCoP.
The secretary updated the meeting on the issues related to the privatization of loss making SOEs including Heavy Electrical Complex, Services International Hotel, Pakistan Steel Mills, HBFCL, Roosevelt Hotel, NY, Pakistan International Airlines (PIA), RLNG Power Plants, 10 Discos, etc.
The Chair underscored the need of accelerating the process of privatization of loss making SOEs to foster great efficiency, productivity and enhancing the overall revenue of the country.
Regarding privatization and restructuring of PIA, the CCoP decided to form a technical committee for resolutions of bottlenecks and directed the Aviation Ministry to work with Privatization Commission to present a detailed action plan with a clear time framework in a sequence.
Similarly the CCoP constituted a committee led by caretaker Minister for Energy to present a viable plan with a timeline regarding private sector participation in the management of Discos.
The Committee was Secretary Privatization Commission, Special Secretary Finance and member from NEPRA. The Committee shall submit its recommendations within the shortest possible time.
