Privatisation board members cut to half
Government aims to curb expenses.
ISLAMABAD:
The government on Saturday cut to half the members of the board of Privatisation Commission (PC), a move that may save tens of thousands of rupees on account of travel and daily allowances.
Prime Minister Syed Yousaf Raza Gilani constituted a nine-member board with Syed Naveed Qamar, Federal Minister for Privatisation, as chairman. The board, which previously had 17 members, has been reconstituted on the advice of privatisation minister.
These members are entitled to travel allowance, daily allowance, free air tickets and free stay at luxury hotels during board meetings.
PC had been facing criticism for not doing anything for at least two and a half years as it conducted its last transaction in 2008-09. Since then, the government has been unable to generate any revenue on account of privatisation proceeds. Though PC is working on issuance of exchangeable bonds in the international market to generate over $1 billion, much work still needs to be done.
According to an official handout, the premier has nominated Engineer Iftikharul Haq as member of the PC board. Earlier, he had been a member of the board from 1993 to 1996 and from 2003 to early 2008. Since 1987, he has been the managing director of Engineering General Consultants, Lahore.
The second member is Laeeq Ahmed, who also served on the PC board during the second tenure of PPP government in the 1990s. He is CEO of Olympus International, Lahore, which is a project developer in telecom and energy sectors.
Mahmood Nawaz Shah has again been nominated as the board member. He is an agriculturist from Sindh and remained a member of the board from March 2003 to February 2011.
Tanvir Ahmad Sheikh also won a slot on the board. He remained president of the Federation of Pakistan Chambers of Commerce and Industry from 2007 to 2008.
Nawabzada Saifullah Magsi has also been nominated as the member. He had also served as a senior minister for planning and development, law and parliamentary affairs, Balochistan.
Farid Malik, a chartered financial analyst, also got a place in the board. Shahab Anwar Khawaja, former secretary privatisation, also became a board member. Current Secretary Privatisation Muhammad Ejaz Chaudhary will serve as secretary and member of the PC board.
Published in The Express Tribune, March 27th, 2011.
The government on Saturday cut to half the members of the board of Privatisation Commission (PC), a move that may save tens of thousands of rupees on account of travel and daily allowances.
Prime Minister Syed Yousaf Raza Gilani constituted a nine-member board with Syed Naveed Qamar, Federal Minister for Privatisation, as chairman. The board, which previously had 17 members, has been reconstituted on the advice of privatisation minister.
These members are entitled to travel allowance, daily allowance, free air tickets and free stay at luxury hotels during board meetings.
PC had been facing criticism for not doing anything for at least two and a half years as it conducted its last transaction in 2008-09. Since then, the government has been unable to generate any revenue on account of privatisation proceeds. Though PC is working on issuance of exchangeable bonds in the international market to generate over $1 billion, much work still needs to be done.
According to an official handout, the premier has nominated Engineer Iftikharul Haq as member of the PC board. Earlier, he had been a member of the board from 1993 to 1996 and from 2003 to early 2008. Since 1987, he has been the managing director of Engineering General Consultants, Lahore.
The second member is Laeeq Ahmed, who also served on the PC board during the second tenure of PPP government in the 1990s. He is CEO of Olympus International, Lahore, which is a project developer in telecom and energy sectors.
Mahmood Nawaz Shah has again been nominated as the board member. He is an agriculturist from Sindh and remained a member of the board from March 2003 to February 2011.
Tanvir Ahmad Sheikh also won a slot on the board. He remained president of the Federation of Pakistan Chambers of Commerce and Industry from 2007 to 2008.
Nawabzada Saifullah Magsi has also been nominated as the member. He had also served as a senior minister for planning and development, law and parliamentary affairs, Balochistan.
Farid Malik, a chartered financial analyst, also got a place in the board. Shahab Anwar Khawaja, former secretary privatisation, also became a board member. Current Secretary Privatisation Muhammad Ejaz Chaudhary will serve as secretary and member of the PC board.
Published in The Express Tribune, March 27th, 2011.