Islamabad: Federal Minister for Privatisation Mohammad Mian Soomro on Wednesday (February 02) chaired a review meeting of the State-Owned Enterprises (SOEs) sale status, news sources reported. The meeting agreed to expedite work on the privatisation of the loss-making enterprises to earn revenue and create employment opportunities.
According to reports, the meeting examined important company privatisation issues, such as the sale of House Building Finance Company Limited (HBFCL) and the sale of its whole share and the transfer of management ownership. In addition, the meeting discussed the subject of National Security Clearance (NSC) for the transfer of K-(KE) Electric’s shares to Shanghai Electric (SEP), which had been stalled. At the same time, the Power Purchase Agreement (PPA) between KE and Power Division was being finalised. The meeting also discussed the completion of matters concerning the Heavy Electrical Complex (HEC), National Power Parks Management Company Limited (NPPMCL), Pak Reinsurance Company Limited (PRCL), Pakistan Steel Mills (PSM), House Building Finance Company Limited (HBFCL), distribution companies, and others. In addition, the PCP examined issues with the Pakistan Steel Mills (PSM) during its most recent meeting in December.
According to reports, the SOE is already in the advanced stages of privatisation. Other SOEs proposed for privatisation by the government include SME Bank, Jinnah Convention Centre, and First Women Bank Limited.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
