Islamabad: The Privatization Commission Board convened its 225th meeting today under the leadership of Abdul Aleem Khan, Minister for Privatization and Chairman of the Privatization Commission. The session focused on accelerating private sector involvement in key public utilities and financial institutions, marking a significant step in the government’s broader privatization agenda.

According to Press Information Department, the board deliberated on the evaluation committee’s report concerning the hiring of a Financial Advisor (FA) for the privatization of three Distribution Companies (DISCOs) GEPCO, FESCO, and IESCO. Decisions were made to proceed with hiring FAs from a pre-qualified panel as outlined in the Privatization Commission’s 2018 regulations. Additionally, the board approved the initiation of the process to hire FAs for the privatization of the Zarai Taraqiati Bank Ltd. (ZTBL) and the Utility Stores Corporation (USC), aiming to foster competition and ensure transparency in these transactions.

The meeting underscores the government’s commitment to privatizing state-owned enterprises to enhance their efficiency and competitiveness in the marketplace.