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PR No.103
Islamabad: September 10, 2021

Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, presided over the meeting of the Cabinet Committee on Privatization (CCoP) today. Federal Minister for Planning, Development and Special Initiatives Asad Umar, Federal Minister for Privatization Muhammad Mian Soomro, Federal Secretaries, Chairman SECP other and senior officers participated in the meeting. Adviser on Commerce Abdul Razak Dawood joined the meeting through a video link. The CCoP approved the summary, tabled by the Privatization Commission Board, recommending highest bid of about Rs. 1.96 billion received after auction proceedings for privatization of Services International Hotel, Lahore. Moreover, the Secretary Privatization Commission Board updated the participants about the actions being taken to privatize or restructure entities with respective timelines. In his remarks, the Finance Minister directed to accelerate the whole process with due diligence in order to bring efficiency into the public sector. He further stated that the Government is firmly committed to the reform agenda focusing on improving the functions of the State-owned Enterprises to make them profitable and sustainable.

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