23 govt properties sold out last month for Rs1 bn: Muhammad Mian Soomro

ISLAMABAD: Federal Minister for Privatization Muhammad Mian Soomro on Wednesday announced that the process to auction 23 government-owned land was completed during the last month, ARY NEWS reported.

“We initiated the process to auction 26 government-owned lands last month and completed the auction of 23 of them,” he said while heading a meeting of the Privatization Commission of Pakistan.

It was informed during the meeting that three properties that were yet to be sold out during the last month’s process included Republic Motors land in Lahore, commerce Division land, Multan Division land, aviation division land, and property in Rahimyar Khan.

He further said that the Rs 1 billion was collected after the successful process of 23 auctions. All properties were sold out above the reserve prices set by the government.

Muhammad Mian Soomro said that his ministry has performed the privatization process in a transparent and effective manner. “We will continue to play our part in Prime Minister Imran Khan’s vision for economic revival in the country,” he said.

It is pertinent to mention here that Privatization Minister Muhammad Mian Soomro on September 28 said that the government would likely earn 100 billion rupees with privatization of the state-owned entities in the ongoing fiscal year.

It was informed during an earlier meeting that privatization of two RLNG-based power plants Haveli Bahadur Shah Power Plant in Jhang district and Baloki Power Plant in Kasur was in the final phases.

Muhammad Mian Soomro directed the officials to continue the privatization process of public entities included in the active list and said that all legal and administrative issues pertaining to the process should be resolved soon.