Non-profitable institutions privatization in national interest: PM

F.P. Report

ISLAMABAD: Prime Minister Imran Khan Wednesday said privatization of non-profitable institutions and unused government properties was in the national interest as it would not only reduce burden on the national exchequer but would also procure financial resources for social and welfare development projects.

He said this while chairing a review meeting about progress on privatization of various government institutions and properties.

The meeting was attended by Minister for Planning Asad Umar, Minister for Privatization Mian Mohammad Soomro, Finance Advisor Dr Abdul Hafiz Shaikh, Commerce Advisor Abdul Razak Dawood, Advisor on Reforms Dr Ishrat Hussain, Special Assistant to the Prime Minister on Information Dr Firdous Ashiq Awan, Privatization Division secretary and senior officials.

The Privatization Division secretary briefed the prime minister about the progress on privatization of various government institutions and properties.

The meeting was told that process of privatization of seven institutions and properties would be completed this year and that include two RLNG power plants, SME Bank, Services International Portal Lahore, Jinnah Convention Centre Islamabad and 27 government land.

The prime minister was told the seven transactions would be completed by May and June by this year.

The prime minister directed that all possible effort must be done to complete the process of privatization in the stipulated time frame.

He said in this context inter-ministerial coordination should be further improved so that quick action to be taken on all unresolved affairs and all hurdles could be removed.