Govt going to privatise 18 national institutions: minister
- By Web Desk -
- Feb 19, 2020
ISLAMABAD: Federal Minister for Privatisation Muhammad Mian Soomro has announced that the federal government is going to privatise 18 national institutions, ARY News reported on Wednesday.
Muhammad Mian Soomro, while talking to journalists today, said that the final bid of the Liquefied Natural Gas (LNG) power plants will be released in April, whereas, 18 institutions are being privatised at once.
The minister clarified that the government will fully comply with the court orders and PPRA [Public Procurement Regulatory Authority] rules.
He detailed that the bidding process for LNG power plants will be finalised within three months and later the privatisation process will be continued every month for the remaining institutions.
Read: Govt to sell its stake in ‘State Life’: Mian Soomro
The institutions listed for its privatisation also include Oil and Gas Development Company Limited, Services Hotels Lahore, SME Bank and First Women Bank.
Soomro revealed that the concerned authorities will finalise the framework for privatisation of five institutions by June this year, whereas, the hurdles being removed for the bidding of LNG power plants.
“China, Russia and Japan have shown interest for Pakistan Steel Mills (PSM). The institution is out of CPEC (China-Pakistan Economic Corridor) framework so far. However, the decision will be reviewed if Chinese investors exhibit interests in PSM.”
Read: Minister invites Chinese investors to benefit from privatisation programme
Earlier on Monday, Federal Minister and Privatisation Commission Chairman Muhammad Mian Soomro had said that they were moving towards the privatisation of Balloki and Bahadur Shah power plants located in the Punjab province by April this year.
The federal minister made the statement while chairing a meeting on the privatization of power plants. It was attended by top officials from the privatization and finance ministry departments.
The chairman announced that initially the 1223 MW Balloki power plant in Chunian and RLNG-based Bahadur Shah power plant in Haveli area would be privatised.
The federal minister said that it was their top priority to complete the privatisation process by adopting fair procedures.