PC fails to achieve targets: SC verdict in PSM case further aggravates process

LAHORE - Almost all major transactions of the Privatisation Commission have been shelved with the only exception of SME Bank, and even the bidding of this financial institution has also been delayed for another four months, The Nation leant on Monday.

As the government is yet to initiate the privatisation process, it is uncertain that it will achieve the set target of $744 million in this regard, sources said adding that not a single meeting of the Cabinet Committee on Privatisation (CCOP) has been convened even after the present government has completed 100 days in office.

Sources further told the sale of Pakistan State Oil (PSO), Pakistan Petroleum Limited (PPL), Oil and Gas Development Company Limited (OGDCL), Sui Northern Gas Pipeline Limited (SNGPL), Sui Southern Pipeline Limited (SSGC), PTDC Motels and other entities has also been put on the back burner like that of the Global Depositary Receipt (GDRs) of Habib Bank (HBL), Kot Addu Power Company (KAPCO) and National Bank (NBP) on the pretext of market conditions at home and abroad.