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Islamabad, March 09, 2023 (PPI-OT): The Senate Privatization Committee met on Thursday under the Chairmanship of Senator Shamim Afridi here at the Parliament House and took briefing on Privatization of Convention Centre, Islamabad.
The committee made recommendation in its previous that the Convention Centre, Islamabad should be delisted from Privatization list as Convention Centre, Islamabad is a national asset and the latter covering its maintenance cost from its rental income.
It was also recommended in its previous meeting that the by-laws of the CDA should not be altered for the privatization of convention Centre, Islamabad as this would become a common practice in and create environment problem for the Federal Capital.
The Chairman CDA briefed the committee that it was directed by the Ministry of Interior that the convention center Islamabad which is on 7.59 acre and it’s build up area is around 4.13 acre, maintained by CDA should be privatized which was approved by the cabinet but reservation was held on its mode of transaction which was against CDA by laws.
It was directed to the CDA that the process, be re initiated, the new layout Plan was laid and approved by the CDA board which was sent to Planning Commission Board for approval and after being duly approved, was sent to the Ministry of Interior, which was further submitted to the CCOP but has not been tabled in the meeting as yet and is still pending. The Secretary Interior briefed the committee that the tender has not yet been advertised as yet.
The process is at premature stage only an expression of interest is being intimated. The secretary interior said that they expect to expedite the process so that a price can be evaluated for bidding. The matter was deferred for further briefing and report.
While taking Briefing on the current status of Privatization of Pak China Fertilizers Company. Haripur, on which the committee previously recommended that as Schon Group has not paid full payment as per commitment of privatized shares of Pak china Fertilizers Company, and legal action needs to be taken for non-payment of remaining amount of privatization.
It was briefed by the Ministry that the PC is currently pursuing the execution petition pending for adjudication before the Islamabad High court. The property of Pak China Fertilizers Limited is attached for the recovery of outstanding amounts by the orders of the Islamabad High Court.
It was briefed that the Schon Group is willing to deposit sum of Rs. 235 million along with a performance Guarantee amounting to Rs. 700 million for the disputed amount, provided stay order against disposal /sale of assets property of PCFL is vacated. It was apprised that the next date of hearing is fixed for 09-03-2023.
The meeting was attended by Senator Anwar Lal Dean, Senator Rana Mahmood Ul Hassan and Senator Umer Farooq. Secretary Ministry of Interior, Chairman CDA and other officials of the attached departments were also in attendance.
For more information, contact:
Senate of Pakistan
H.No.7, Cat-II, G-8/2, Islamabad, Pakistan
Tel: +92-51-9204564534
Fax: +92-51-9205703
E-mail: senate@comsats.net.pk
Website: www.senate.gov.pk