Caretaker Today’s Cabinet Committee on Privatization (CCoP) inaugural meeting was handed over by the Federal Minister for Finance, as well as Revenue, which is Economic Affairs, and Privatization Dr. Shamshad Akhtar, and individuals decided to establish committees to speed up the privatization of Pakistan International Airlines (PIA) and Distribution companies (DISCOs).
For the second time by the newly established CCoP, the Secretary Privatization Commission (PC) gave an extensive report on the progress of the ongoing privatization program. The secretary of state gave a report on the issues involving the privatization of loss-making SOEs, including the Heavy Electrical Complex, Services International Hotel, Pakistan Steel Mills, HBFCL, Roosevelt Hotel in the city of New York, PIA, RLNG Power Plants, 10 Discos, etc. to the conference.
In order to promote high productivity and efficiency and increase the total revenue of the nation, the Chair emphasized the importance of speeding up the privatization of loss-making SOEs. In respect to the privatization and restructuring of PIA, the CCoP solved to set up a technical committee for the removal of bottlenecks and directed the Aviation Ministry to partner with the Privatization Commission to draw up a comprehensive action plan with a distinct time frame in a series of steps.
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In order to provide an effective plan with deadlines for private sector involvement in the administration of DISCOs, the CCoP organized a committee directed by the current Minister for Energy. The General Secretary of Finance, members of NEPRA, and the Secretary of the Privatization Commission formed the Committee. In a short period of time possible, the Committee needs to provide its suggestions to the President.
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Sami Saeed, Minister for Development, Planning, and Special Initiatives; Shahid Ashraf Tarar, Minister for Communication, Maritime, and Railways; Muhammad Ali, Minister for Power and Petroleum; Dr. Waqar Masood, the advisor to the PM on Finance; Air Marshal (Rtd) Farhat Hussain Khan, Advisor to the PM on Aviation; the governor SBP; Chairman SECP; along with senior officers of the respective ministries were all present at the conference.