Federal Minister for Finance and Revenue Mr. Miftah Ismail chaired a meeting of Cabinet Committee on Privatization today

Islamabad, September 13, 2022 (PPI-OT):Federal Minister for Power Mr. Khurram Dastagir Khan, Federal Minister for Commerce Syed Naveed Qamar, and Federal Minister for Privatization / Chairman Privatization Commission Mr. Abid Hussain Bhayo, Special Assistant to the PM on Government Effectiveness Dr. Muhammad Jehanzeb Khan, Federal secretaries and senior officials attended the meeting. Privatisation Commission tabled a summary related to Private sector participation in Management of DISCOs. The CCoP after detailed deliberation directed Privatisation Commission to present a detailed presentation on Public Private Partnership in management of DISCOs (IESCO, FESCO and HESCO).

Further Power Division was directed to carry out the complete evaluation of the assets of the DISCOs by the reputed valuation firm and to present synopsis of financial health of companies. Privatisation Commission presented a report of the sub-committee constituted by the Cabinet Committee on Privatisation (CCoP) on privatisation of Services International Hostel (SIH). CCoP in its meeting on June 24, 2022 constituted a sub-committee to review the Services International Hotel, Lahore (SIH) transaction.

In the decision of the Sub-Committee, fresh valuation of the property was conducted through independent Punjab based valuer, M/s A. J Valuers Association (Pvt) Ltd. The CCoP after discussion directed Privatisation Commission to submit the summary through Ministry of Law and Justice. The CCoP deferred a summary related to addressing pending issues in the transaction closure- privatisation of Heavy Electrical Complex (HEC).

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