LAHORE: The federal government has decided not to privatize expo centers across Pakistan, ARY News reported.
According to CEO of Expo Center Mariam Khawar, the decision was made after considering the increasing revenue of the expo centers, which have been managed efficiently by the government.
The CEO also revealed that the former Chief Finance Officer (CFO) has been dismissed due to corruption allegations. An inquiry is underway, and recovery is being made, said Maryam Khawar, a spokesperson for the Expo Center.
The Expo Centers are self-sufficient and do not receive funds from the government, instead, they generate their own revenue to cover expenses, added Mariam Khawar
READ: Cabinet ‘okays’ privatization of Petroleum division departments
Earlier, the federal cabinet approved the privatization of two departments under the Petroleum Division.
The cabinet given the green signal for the privatization of the Pakistan Mineral Development Corporation and the Saindak Metals Limited (SML).
The Petroleum Division’s department, ENAR Petrotech Services Pvt Ltd will be dissolved. However, the government yet to decide on the fate of other departments under the Petroleum Division, including the Pakistan State Oil (PSO), Pak-Arab Refinery Limited, and the Sui Gas Companies.
It is important to mention here that earlier eight companies reportedly shown their interest in buying Pakistan International Airlines (PIA).
