Islamabad: The Cabinet Committee on Privatisation (CCoP) on Thursday allowed the Privatisation Commission (PC) to initiate sale proceedings of the Services International Hotel (SIH) property in Lahore, according to news sources.
As per the details shared, the meeting approved Services International Hotel’s ‘reserve price’ at PKR 2.25 billion. However, a PC official stated that the price approved by the CCoP is not final.
Moreover, the Privatisation Commission had presented a summary regarding the approval of the reserve price for the privatization of SIH – centrally located at Upper Mall of Lahore and spread over 15+ kanals. The hotel is among 19 state-owned entities on the active privatisation list of the government.
The CCoP’s decision will be tabled before the federal cabinet for final approval. The commission is expected to initiate the proceedings for the privatization of SIH in the first week of April.
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