ISLAMABAD: The government on Thursday approved to sell 26% or more shares of 31 state-owned entities including Pakistan International Airlines (PIA) and Pakistan Steel Mills, fulfilling a key condition of the International Monetary Fund under the $6.7 billion bailout programme.
The list was approved by Cabinet Committee on Privatisation (CCOP) three days after expiry of September 30 deadline set by the IMF. The deadline was given to provide a detailed plan for the respective entities with respect to turning around the loss-making firms.
The Privatisation Commission had tabled a list of 30 items but the CCOP, headed by federal finance minister Ishaq Dar, added Lakhra Power Plant at the eleventh hour. The privatisation of Lakhra Plant would be subject to approval of the Council of Common Interest, as the plant was not among the 65 entities that the CCI had earlier approved for privatisation and restructuring.
No comments:
Post a Comment