You are currently viewing The Minister briefed the media on the progress of ongoing transactions, including PIACL.

The Minister briefed the media on the progress of ongoing transactions, including PIACL.

Today, the Federal Minister for Privatization/Chairman Privatization Commission, Abdul Aleem Khan, held a briefing session with senior journalists from leading newspapers at the Privatization Division in Islamabad. During the session, journalists were briefed about the government’s policy, plan, and strategy for privatization. They were also updated on the progress of ongoing transactions, including PIACL, Roosevelt Hotel, HBFC, and the First Women Bank.

The Federal Minister emphasized the government’s commitment to openness and transparency in all privatization transactions. He announced that all bidding processes will be telecast live to ensure transparency. The Minister also highlighted the potential for profit in buying PIA, stressing that the airline has significant potential with the right investment.

Furthermore, the Federal Minister commended the professionalism and expertise of the national airline’s pilots. He expressed concern over past delays in privatization, citing significant financial losses incurred as a result.

Additionally, the Federal Minister informed the journalists about the government’s decision to privatize DISCOs. Three entities (HESCO, PESCO, and SEPCO) will be offered long-term concessions, while six entities (IESCO, FESCO, GEPCO, LESCO, MEPCO, and HAZECO) will be completely privatized through the sale. The Privatization Division and the Privatization Commission Secretaries were also present during the session.

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