ISLAMABAD: Prime Minister Imran Khan summoned an important session on Friday (today) to review the progress on recommendations made on the privatization of different national institutions, ARY News reported.
PM Imran Khan will review the progress of privatization process and he will also be given a briefing over the national entities facing financial deficits, sources said.
The participants of the session will also hold discussions over the official meetings with the Russian and Chinese companies over privatization, sources added.
In September, the PM’s Finance Adviser Abdul Hafeez Shaikh had signalled that the federal government decided to expedite the process of privatization of some state-owned enterprises as it is also considering the privatization of National Bank of Pakistan and State Life Insurance.
Read: IESCO, State Life included in privatisation programme
Besides, he said the government will restructure the rest of the state-owned enterprises on a fast track basis to improve their performance.
Earlier in May, the privatization Commission of Pakistan had decided to privatize the Pakistan Steel Mills instead of reviving it as the decision was taken by Advisor to Prime Minister (PM) on Finance Abdul Hafeez Shaikh during the meeting of the Economic Coordination Committee (ECC).
Sources said former finance minister Asad Umar had decided not to privatize the Pakistan Steel Mills. The ECC has informed the privatization Committee about the decision.
The sources said the proposal to privatize the PSM would be presented before the privatization board. They said following approval by the privatization board, the summary will be sent to the cabinet’s privatization committee. It was the second time that the PSM has been listed for privatization.
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