Muhammad Mian Soomro reviews progress on PSM privatization process

ISLAMABAD: Federal Minister for Privatization Muhammad Mian Soomro on Wednesday chaired a meeting to review progress on the privatization process of Pakistan Steel Mills (PSM) and other public entities, ARY NEWS reported.

According to details, the federal minister also summoned a meeting to proceed with the privatization process of public entities present on the active list of the privatization programme.

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

The process of these plants would be finalized after COVID-19 travel advisory issues are excepted to be resolved in August.

Mian Muhammad 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.

We will also seek suggestions from the privatization commission on the process, he said.

It is pertinent to mention here that Muhammad Mian Soomro on March 27 said that the process to privatize national entities is ongoing and no delay is being made in the timeline for the privatization of power plants and other entities.

He said that although the government has prioritize provision of health facilities due to the coronavirus pandemic, however, the privatization process is also ongoing as planned.

“We are trying to privatize Haveli Bahadur Shah Power Plant and all information regarding its sale is uploaded on the virtual data room,” he said.

The minister said that they are in constant touch with national and international financial institutions and concerned investment companies. All operations are carried out using the e-filing and e-link processes, he said.