Pakistan Steel Mills among 19 entities to be privatized, says Soomro

LAHORE: Pakistan Steel Mills, Mari Gas Field and Convention Centre Islamabad have been among he state-owned entities that will be privatized, quoting privatization minister Muhammad Mian Soomro, ARY News reported on Wednesday.

Federal Minister for Privatization Muhammad Mian Soomro was talking to media here in a gathering.

Soomro said that the government is implementing privatization of state-owned entities according to a plan denying any uncertainty in this respect.

The privatization of these government entities will be held according to the relevant ordinance while keeping transparency, the minister said.

Pakistan Steel Mills, Mari Gas Field and Convention Centre Islamabad, Services Hotel, SME Bank, PPL, Guddu Power Plant and power companies have been in the list of 19 state-owned entities that will be offered for privatization, Soomro said.

“The government has set a target of 100 billion rupees revenue from privatization of these entities this year,” privatization minister said.

Pakistan International Airlines’ Roosevelt hotel in New York will be given on lease, the minister further said.

Two power distribution companies have also been included in the privatization list, he said.

The government will devise a mechanism for privatization of Pakistan Steel Mills. “A proposal also under consideration to sell the steel mills after payment of arrears against it”, the minister said.

Privatization process has been continued across the world and it not being rolled back anywhere, Soomro said.