Lahore: The Privatisation Commission on Wednesday recommended the government to pursue the sale of the House Building Finance Corporation (HBFC) to private sector buyers, a news source reported. Specifically, it finalised a list of five state-owned entities and submitted it to the Cabinet Committee on Privatisation (CCoP) and the Cabinet for a formal approval.
According to the details revealed, the list includes the following entities:
House Building Finance Corporation
Jinnah Convention Centre
First Women Bank Limited
Services International Hotel
Federal Minister for Privatization Mohammed Mian Soomro said that these entities required no-objection certification, documents, and approvals from the relevant ministries before the CCoP and the Cabinet could provide their formal approval.
The members of the CCoP also received an update on the ongoing privatisation of state-owned entities. These included two RLNG power plants, the Pakistan Steel Mills, and the sale of federal government properties.
Meanwhile, Soomro stated that matters pertaining to the recommended entities for privatisation must be completed carefully to prevent delays. He added that the cash flow generated from this initiative would help the government in debt retirement.
