Privatization Commission Board Focuses on Competitive Process for Successful Outcomes

Islamabad: The 225th meeting of the Privatization Commission Board (PCB), led by Federal Minister for Privatization, Board of Investments and Communications Abdul Aleem Khan, emphasized a competitive and transparent approach to the privatization of state-owned enterprises. The session resulted in the formation of a Negotiating Committee tasked with overseeing the privatization processes to ensure their effectiveness and transparency.

According to Press Information Department, Minister Khan highlighted the importance of maintaining high marketing and sales standards post-privatization to ensure that privatized entities not only succeed but also contribute significantly to government revenues. The meeting also addressed the implementation of legal frameworks and advertising strategies to support these goals.

Discussion points at the meeting included the privatization specifics of the Agricultural Development Bank and Utility Stores, alongside the appointment of a Financial Advisor to aid these processes. The PCB also reviewed and approved decisions on various technical matters and the proceedings from the previous meeting, reiterating the need for stringent adherence to legal standards throughout the privatization process.

The Federal Secretary assured the board that all privatization activities are being conducted within full legal parameters, ensuring that each step is legally sound and transparent. The Minister called on all members to actively participate and contribute to the expediency and success of the privatization efforts.