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Govt postponed privatization of 28 properties and six public sector entities

Islamabad: The government announced its decision to postpone the privatization of 28 state-owned properties and six public sector entities till the next fiscal year. These properties and entities are expected to generate PKR 400 billion in non-tax collection during the current fiscal year.

Federal Minister Mohammed Mian Soomro presided over a meeting to review the progress on privatization program and discussed the priority transactions. The minister was briefed about the progress of transactions related to Jinnah Convention Centre, National Power Parks Management Company Limited (NPPMCL), SME Bank, Services Int’l Hotel (SIH).

The minister was also informed about the 28 properties which were scheduled to be sold in the current fiscal year, but their timelines were revised due to the COVID-19 outbreak. The Privatization Commission informed that a revised schedule for the state-owned properties and public sector entities had also been shared with the Prime Minister’s Office (PMO).

In response, the minister directed the officials concerned to meet the requisite formalities as the transactions would be conducted once normalcy returns.

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