Latest News:- Govt plans PIA, PSM sell-off in first phase Staff Report ISLAMABAD: The federal government plans to privatize loss-making Pakistan International Airlines and Pakistan Steel Mills in the first phase while government’s shares in Habib Bank, United Bank and Pakistan Petroleum Ltd. would also be offloaded. The plan was outlined by relevant senior officials including Secretary Finance during a briefing to the members of the Senate’s Standing Committee on Finance which met here on Monday. Committee’s members were informed about the privatization policy under an agreement for $6 billion extended facility of the International Monetary Fund. Standing Committee on Finance was informed that in the first phase PIA and PSM will be privatized while Pakistan Railways is not included in the list of entities up for privatization in the first phase. Moreover, government’s stakes in two banks namely HBL and UBL and in oil and gas exploration firm PPL will also be offloaded. Committee’s members opposed privatization of profit-making institutions and also asked that government shares should be offloaded through the stock exchanges. Committee was also informed that a summary for the reconstitution of the Privatization Board has also been sent to the prime minister. – SAMAA
Posted on: Mon, 02 Dec 2013 09:33:06 +0000