Minister seeks quick completion of privatisation drive in Punjab.

Lahore: Federal Minister for Privatisation Muhammad Mian Soomro has asked the Punjab government to expedite the ongoing privatization of the Haveli Bahadur Shah Power Plant, Block Power Plant, Services International Hotel Lahore, as well as several other state enterprises, a news source reported.

Govt to generate PKR 150 bn through privatization of state-owned entities

He expressed his view on the matter during a meeting on privatization held on Thursday at the Civil Secretariat. Provincial Minister for Law and Punjab Liquidation Board Committee Chairman Raja Basharat was also present on the occasion.

The participants reviewed the obstacles in the privatization process and the changes proposed in the local government laws and LDA rules.

Soomro praised the provincial government’s cooperation with the Federal Privatisation Board. He further instructed the Lahore Development Authority (LDA) and the Privatisation Commission to speed up the work on privatization.

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In response, Basharat said that the Punjab government had amended LDA Land Use Rules 2019, and Private Housing Scheme Rules 2014 on power plants to speed the process of privatization.