ISLAMABAD: The government has decided to raise $1.53 billion through privatisation of public sector entities including Habib Bank Limited (HBL) and power distribution companies during the ongoing financial year.
Privatisation Commission (PC) Chairman Mohmmad Zubair informed Finance Minister Ishaq Dar, who was chairing a briefing session by the PC, that initially divestment of GoP shares in HBL, Discos and some other SOEs (State Own Entities) will be focused. He said that formalities for the same including appointment of advisor for Discos are being undertaken. HBL financial advisors are already appointed, he added.
According to the Finance Ministry, the projected amount is much lesser than the claim of Privatisation Minister as he estimated to generate $4.5 billion from privatisation this fiscal year.
The documents of Finance Ministry showed that government had planned to complete four transactions during year 2014-15. The government completed the transactions of Allied Bank of Pakistan in December last year that generated Rs14.4 billion for the national exchequer. Meanwhile, the government would go for divesting the shares of HBL in April 2015, which would generate $1.36 billion.
