Islamabad: The federal cabinet has given its approval to begin the selling process of 31 public sector properties, a news source reported. The said properties have been collectively valued at PKR 10 billion.
Nine ministries and divisions presented a list of 31 properties to the federal cabinet. The sale of these properties is expected to raise funds to support the government’s activities.
Prime Minister (PM) Imran Khan had formed an asset management committee for this purpose. The committee held regular meetings to review the progress in this regard. Up to 42 ministries and divisions responded to the committee and identified properties for sale. The committee then divided the listed properties into four categories.
The committee placed the said 31 properties in the first category; available for immediate privatisation. Now, the Privatisation Commission awaits the certified title documents and authority letters from the ministries and divisions. Once received, it will invite Expressions of Interest (EOI) for appointing financial advisors and evaluators following the approval of the Cabinet Committee on Privatisation.
The evaluators will offer a reference price while the financial advisors will complete the sale process. The commission will also formulate a timeline for selling the rest of the properties once the required formalities have been fulfilled.
