Govt to generate PKR 150 bn through privatization of state-owned entities.
Lahore: The federal government is looking to generate PKR 150 billion from privatization proceeds in 2019-20 as part of the Cabinet Committee on Privatisation’s (CCoP) approved plan for privatization of 64 state-owned entities over five years – a news source reported.
Govt delists five properties from privatization list; hands over three to NPHA
The plan had originally been approved on October 31, 2018, and it was spread over three phases. In the first phase, the government has included eight Public Sector Enterprises (PSEs) in the active privatization program. These will be privatized within 12 to 18 months. These include:
- National Power Management Co Ltd Power Station: 1230 MW Haveli Bahadur Shah
- National Power Management Co Ltd Power Station: 1223 MW Balloki Power Plants
- SME Bank Limited
- Services International Hotel
- Divestment of Government of Pakistan’s residual shares in Mari Petroleum Company Limited (MPCL)
- Jinnah Convention Centre, Islamabad
- Lakhra Coal Mines
- First Women Bank Limited.
The government has already hired financial advisors for the privatization of two power plants and an SME Bank.
Nearly 41 PSEs are going to be privatized in phase two and the concerned ministries/ divisions have been directed to conduct sectoral studies prior to their privatization.
PM directs for timely privatization of govt institutions
The government has also de-listed 15 labor sensitive entities from the privatization list including Pakistan Steel Mills, Power Distribution Companies (DISCOs), and Pakistan International Airlines (PIA).
Other delisted entities include National Bank of Pakistan, Industrial Development Bank Limited (IDBL), Trading Corporation of Pakistan (TCP), Pakistan State Oil Company Limited (PSO), Sui Northern Gas Pipelines Limited (SNGPL), Sui Southern Gas Company Limited (SSGC), Civil Aviation Authority (CAA), Utility Stores Corporation of Pakistan (USC), Pakistan Steel Fabricating Company Limited, National Highways Authority (NHA), National Construction Limited (NCL), Printing Corporation of Pakistan (PCP) and Pakistan Railways as well as its allied facilities, factories, and workshops.