Federal minister for law and justice senator Azam Nazir Tarar chaired a meeting of the Cabinet Sub Committee to recommend the mechanism to engage foreign law firm of strategy for treaties with investment provisions (TIPS) on May 31st 2023. Representative of Board of investment, Privatization commission, Attorney General Office and PPRA attended the meeting. The committee was made by the cabinet to recommend mechanism for engaging reputed international law firms for transactions and appointment of Financial and legal advisors . After deliberation on the matter, it was decided that the appointment of transaction advisors, financial advisors and legal advisors in respect of privatization matters should be given a formal shape for the approval of federal cabinet. It was also decided that privatization commission will formulate a report covering all aspects relating to the appointment of pre transaction services of the transaction advisors, financial advisors. However in emergent cases a provision may be added to cater the matters in expeditious manner. The final report by the committee will then be submitted to cabinet for approval.
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