Minister reviews progress

Minister reviews progress

APP July 08, 2021


Federal Minister for Privatisation Mohammed Mian Soomro on Wednesday chaired a meeting to review the current status and progress on privatisation of different entities included in the active privatisation list. A latest report regarding the progress made in transactions of state-owned enterprises (SOEs) was presented and various issues were discussed in detail. These included the federal government properties across Pakistan as 23 out of 27 were auctioned last year. For the remaining unsold properties, expressions of interest (EOIs) have already been published for hiring financial advisers. For the Heavy Electrical Complex (HEC), five investors have pre-qualified and the transaction is likely to be completed in the first quarter of current fiscal year. For the Jinnah Convention Centre (JCC), the expected date for completing the transaction is December 2021. Matters relating to small and medium enterprises, First Women Bank and House Building Finance Corporation (HBFC) were also discussed with the State Bank of Pakistan and other relevant forums.

Published in The Express Tribune, July 8th, 2021.

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