ISLAMABAD, Jul 3 (APP): Minister for Privatization Abdul Aleem Khan on Wednesday said that the government was committed to openness and transparency in all of the privatization transactions of loss making enterprises and all the bidding would be telecast live for everyone to see.
The minister was briefing the media persons regarding the government’s policy, plan and strategy for privatization and apprised them on the developments of the ongoing transactions including PIACL, Roosevelt Hotel, HBFC and the First Women Bank, said a press release.
He said that PIA offered a very good opportunity for its buyer to earn profit given that PIA has great potential that only requires fresh investment. He praised the pilots of the national airline for being thorough professionals and experts in their field.
The minister lamented the delays in privatization of certain entities in the past and pointed to the fact that these delays have already inflicted losses of billions of rupees and apprised that the government was ready for the privatization of Distribution Companies (DISCOs) where three entities including HESCO, PESCO and SEPCO would be offered for long term concession.
He said that the six entities including IESCO, FESCO, GEPCO, LESCO, MEPCO and HAZECO would be completely privatized through sale and the Ministry of Privatization would initiate the process in due course in consultation with Power Division.
