Federal Communications, Privatization and Investment Board Minister postponing the privatization of Pakistan International Airline (PIA) cost the national exchequer Rs850 billion.
Talking to the media, the minister said loss-making entities are being rapidly privatized in three phases.
The minister highlighted the adverse economic effects of postponing the privatization of PIA, Steel Mills etc and the government programme.
He said: “The privatization process will be fair and the media will be allowed live coverage.
“The process of privatization is being done per the rules and regulations.
“Halt to privatization of entities like PIA, Steel Mills and Reko Dek.
“After the PIA, Roosevelt, House Building Finance Corporation and First Woman Bank will also be privatized.”
He added: “The next phase will be the process of privatization of power generation and distribution companies.
“State Life Corporation, Agricultural Development Bank and the Utility Stores Corporation are also on the privatization list.
"All departments concerned have also been taken on board.
"The entire process of privatization will be on an integrated basis."