The Privatization Commission has finalized 10 state entity for privatization, including the national carrier PIA and State Life Insurance, reported 24NewsHD TV Channel.
Senate Standing Committee on Privatization met under the chair of Senator Afnanullah Khan while Advisor to the Prime Minister on Privatization and Chairman Privatization Commission Muhammad Ali, Secretary Privatization Division briefed the Committee.
List of entities which are being privatized was presented before the committee. There are a total of 84 SOEs of the federal government, out of 84 SOEs, list of 24 entities has been compiled.
It was told that 10 entities included in phase one of the list of privatized entities. Privatization committee said in phase one the privatization of 10 entities to be completed within one year.
Pakistan International Airlines, State Life Insurance, Utility Stores Corporation, First Women Bank Limited, House Building Finance Company, ISCO, FESCO, GEPCO included in first privatization list.
Privatization Commission said PMDC not included in privatization list. It was told that Cabinet Committee on Government Owned Institutions is looking at 44 institutions.
Privatization Commission said Cabinet Committee on Privatization approved the privatization of PMDC. The privatization process of Heavy Electrical Complex has been completed. The privatization phase of Services International Hotel has been completed.
Senate Privatization Committee said the privatization phase of Roosevelt Hotel is still incomplete. The House Building Finance Company is currently in the privatization phase.
Privatization Commission told Senate body that in the privatization phase of the Agricultural Development Bank, the financial advice process has been initiated.
A decision will be made on the recommendations of the financial advisor for ZTBL. The government wants to give ZTBL a commercial identity. The federal cabinet will decide on the work of ZTBL. The committee members said ZTBL provides loans to farmers therefore its privatization will hit against farmers, committee members.
PM adviser told the meeting that ZTBL's losses were in billions, its balance sheet is in losses, after privatization, the bank's portfolio will have to be seen.