In order to ensure high level of attention and to benefit from the collective wisdom of the top level economic managers of the Government, a Cabinet Committee on Privatization (CCoP) was created in 1991 to oversee the Privatisation related activities. The terms of Reference of the Committee are as under:-
- To formulate the Privatisation Policy for approval of the Government/Cabinet;
- To approve the State Owned Enterprises to be privatised on the recommendation of the PC or
- otherwise;
- To take policy decisions on inter-ministerial issues relating to the privatisation process;
- To review and monitor the progress of privatisation;
- To instruct the PC to submit reports/information/data relating to the privatisation process or any matter
- relating thereto;
- To take policy decisions on matters pertaining to privatisation, restructuring, deregulation, regulatory
- bodies and Privatisation Fund Account;
- To approve the Reference Price in respect of the State Owned Enterprises being privatised; To approve the successful bidders;
- To consider and approve the recommendations of the PC on any matter; and
- To assign any other task relating to privatisation to the PC
The Composition of the Committee is as under:- (1)
1. |
Adviser to the Prime Minister on Finance & Revenue Chairman |
Chairman |
2. |
Minister for Communication |
Member |
3. |
Minister for Law & Justice |
Member |
4. |
Minister for Planning, Development & Reform |
Member |
5. |
Minister for Privatisation |
Member |
6. |
Minister for Power |
Member |
7. |
Adviser to Prime Minister on Commerce, Textile, Industry & Production and Investment |
Member |
8. |
Adviser to Prime Minister on Institutional Reforms and Austerity |
Member |