PM urges swift completion of privatisation process

Calls for removing hurdles as govt wants to enhance non-tax revenue

ISLAMABAD: Prime Minister Imran Khan has directed the Ministry of Privatisation to conclude the privatisation of identified institutions within the set time frame and has assured it of the provision of all resources to achieve the goal.

Addressing a meeting held to review the progress on privatisation on Friday, the prime minister directed all the ministries associated with the privatisation process to extend maximum cooperation and contribution to the process.

He also called for keeping the Prime Minister's Office updated on the progress on the privatisation programme and removing all the bottlenecks on an immediate basis. He emphasised that it was among the government's priorities to enhance non-tax revenues.

He said the objective of privatisation was to save the national exchequer from future losses besides handing over poor performing institutions to capable hands to exploit their true potential.

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The prime minister stressed that privatisation would help improve the performance of state-owned enterprises which had been under-performing for the past many years. PM Imran pointed out that privatisation would increase the government's receipts, particularly the non-tax revenues, which would help it launch more public welfare projects in the educational and health sectors and provide amenities.

Privatisation Secretary Rizwan Malik presented a report on the progress on privatisation of public entities.

Briefing the prime minister, he said those state-owned enterprises were selected for sale which were either persistently causing a loss to the national exchequer or performing below par.

Moreover, the public properties, which had been lying unused or making no profit for years, had also been included in the sell-off list, he added.

The prime minister was apprised that preparations for the privatisation of Haveli Bahadur Shah power plant, Balloki power plant, SME Bank, Services International Hotel Lahore and Jinnah Convention Centre were in final stages.

"International parties have expressed interest in purchasing the said entities," he added. "Moreover, the privatisation process for the Guddu power plant, Nandipur power plant, First Women Bank, Pakistan Petroleum and State Life Insurance Corporation has also been initiated."

The secretary apprised the meeting about the sale of valuable properties held by different ministries and government departments.

Published in The Express Tribune, November 16^th, 2019.

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