Islamabad, JULY28: Abdul Aleem Khan, the federal minister for privatization, the Board of Investment, and communications, recently chaired the Privatization Commission Board meeting, during which significant decisions were adopted.
In this meeting, topics pertaining to the privatization of DISCOs and other organizations, such as PIA, were discussed. The Privatization Commission Board reached a unanimous decision to privatize three electricity distribution companies (DISCOs) in the first phase. All legal proceedings will be concluded by January 2025, and practical work has already begun on the privatization projects. Additionally, PCB approved the appointment of Financial Advisors for these DISCOs and the appropriate course of action.
The Privatization Commission Board was instructed by Federal Minister Abdul Aleem Khan to guarantee a transparent procedure and prompt completion of the privatization process for the institutions entrusted to them. According to him, the privatization of nations operating in deficit is necessary for the recovery and expansion of the national economy.
According to Abdul Aleem Khan, the privatization process will essentially lighten the load on the national coffers. According to the Federal Minister for Privatization, there is a good chance that the businesses being moved to the private sector will become successful.
The Federal Secretary for Privatization, the PCB members, and senior officers attended the meeting of the Privatization Commission Board and unanimously approved the significant privatization-related decisions.
In addition to expressing satisfaction with the overall performance, Federal Minister Abdul Aleem Khan noted that all targets should be met on schedule and that the Cabinet Committee (CCoP) would receive the final recommendations for approval.
