Minister Stresses Completing PIA’s Privatization As Soon As Possible

A high-level meeting of the Board of Privatization Commission was held in Islamabad on Thursday under the Chairmanship of Federal Minister for Privatization Abdul Aleem Khan to finalize the privatization of various institutions and regarding important issues related to it. Khan directed that all stakeholders should be kept on board for the privatization of national institutions and the Privatization Commission should ensure its full cooperation to the companies coming forward with serious offers. He said the prime minister wants the privatization of PIA as soon as possible so there should be no further delay in completing the remaining process in this regard. He said that the Privatization Commission should attain financial autonomy by reducing its dependence on the federal government and ensuring an increase in its own resources. Moreover, Khan, Minister of Finance Muhammad Aurangzeb, and Minister of Law Azam Nazir Tarrar held a meeting to review the progress on the privatization of the House Building Finance Corporation. In this meeting, it was agreed that the protection of the employees of the institution would be kept in view during its privatization. The technical and legal aspects of the privatization of the House Building Finance Corporation were also discussed and a negotiation session was held with business groups interested in the purchase of the House Building Finance Corporation along with the officers of the Privatization Commission. Khan directed that all proposals for privatization should be opened in front of cameras in the presence of the media so that there should be no question on its transparency. Earlier, in the 220th meeting of the Privatization Commission Board under the chairmanship of the privatization minister, the Privatization Commission Board approved the proceedings of the 218th and 219th meetings of PCB. The meeting was told that PCB is in contact with the relevant departments including Finance, Law, and Aviation. Moreover, for the appointment of a Financial Advisor for the Roosevelt Hotel and other projects, privatization advertisements have been given in the international media as well. In the board meeting, more institutions were shortlisted for privatization while discussions were held to ensure prompt progress in this regard.