Islamabad: A significant session of the Privatization Commission’s Board convened under Abdul Aleem Khan, Federal Minister for Privatization, Investment Board and Communications, focusing on advancing the privatization of key national entities. The meeting underscored the necessity of inclusive stakeholder engagement and set directives for enhancing financial independence of the Commission.
According to Press Information Department, the Board, led by Abdul Aleem Khan, reviewed the privatization procedures of various institutions, emphasizing transparency and stakeholder involvement. Abdul Aleem Khan reiterated the urgency of privatizing the Pakistan International Airlines (PIA) and discussed strategies to accelerate the privatization process while maintaining full cooperation with potential investors. He highlighted the Prime Minister’s directive for a swift privatization of PIA, stressing the need for expediting the remaining processes.
The session also covered the privatization details of the House Building Finance Corporation (HBFC). Key discussions included safeguarding employee interests and addressing both technical and legal aspects of the privatization. A negotiation with a business group interested in acquiring HBFC was also conducted, reinforcing the commission’s commitment to transparent operations, as suggested by opening all privatization proposals publicly in the media’s presence.
Federal Ministers Muhammad Aurangzeb and Azam Nazir Tarrar, responsible for finance and law respectively, participated in the meeting, echoing the imperative for a timely privatization of HBFC and ensuring adherence to all procedural and legal frameworks.
Furthermore, the 220th board meeting of the Privatization Commission ratified the proceedings from its 218th and 219th meetings and discussed the involvement of various departments such as Finance, Law, and Aviation in the privatization processes. The meeting also highlighted the international advertising for appointing a Financial Advisor for the Roosevelt Hotel and other privatization projects, demonstrating the board’s proactive approach in driving forward the privatization agenda.