Meeting  on Privatisation Transactions update held today

A regular weekly  meeting on privatization transactions update  was called under the chairmanship of Federal Minister/ Chairman Privatization, Mohammedmian Soomro here in Islamabad today. Federal Secretary Privatization, DGs, Transaction Managers,  and others attended the important meeting.

Federal Minister was briefed about  update on various  transactions .  It was briefed  that for Privatisation of Heavy Electrical Complex (HEC) 12 EoIs have been shortlisted for issuance of Request for Statement of Qualification(RSOQ). Transaction of  HEC is expected to be completed  by June 2021. The transaction of Services International Hotel Lahore  is also at advance stage.
A meeting of  transaction committee for   Privatisation of  Jinnah Convention Center Islamabad is  also scheduled to be held  on 18 February 21to discuss the  marketing status/efforts.

The Chairman PC was also briefed that that 100%  amount of  9 government owned properties which were sold in last year, has been received and   remaining unsold properties in Rahimyar Khan,Multan and Swat will be re-auctioned in March 2021.

It is also pertinent to mention that in order to attract competitive bidding for Privatisation of  Sindh Engineering Ltd (SEL) privatisation commission has planned to re-initiate the process for hiring of Financial Advisor (FA) by mid of March in this year.
The progress on  power plants of National Power Parks Management Company Ltd. (NPPMCL) ,Pakistan Steel Mills, First Women Bank ,PECO, HBFC and SME was also discussed.

Federal minister advised his team to expedite transactions by having multiplying efforts using all possible resources to complete transactions as early as possible. 

He also directed the  all concerns that issues with other related ministries should be resolved immediately to expedite transactions. There should be very active follow-up at all relevant levels.