ISLAMABAD  -  In the important meeting of the Privatisation Commission Board, it has been decided to form a Ne­gotiating Committee for the pri­vatisation of institutions. Federal Minister for Privatisation, Board of Investment & Communica­tions Abdul Aleem Khan, while chairing the meeting, directed that the process of privatisa­tion should be completed in the atmosphere of competition and the goal of success be ensured so this process can be ensured as transparent as possible.

While presiding over the 225th session of the Privatiza­tion Commission Board, Fed­eral Minister for Privatization, Board of Investment and Com­munications Abdul Aleem Khan said that after privatization of the institutions marketing and the sales sector of those depart­ments should remain on high pitch. He added that these insti­tutions being privatized should be successful in addition to earn­ing revenue for the government. In the meeting of the Privatiza­tion Commission Board instruc­tions were issued by the federal minister to the department that the advertisements given in the newspapers for privatization should be made part of the rel­evant file which is also necessary for. He added that legal regula­tions should be implemented ful­ly in the process of privatization. In the meeting, issues related to the privatization of more insti­tutions including Agricultural Development Bank and Util­ity Stores were also discussed while the appointment of finan­cial advisor was also came un­der discussion. Apart from this, important decisions were also taken while discussing technical matters in the meeting. Federal minister invited all the members of the Privatization Commission Board to be more active and par­ticipate in the PCB meetings to speed up the process.

Briefing the meeting of the Privatization Commission Board, the federal secretary told that all relevant issues have full legal protection therefore all the process is being carried out as per the rules. Members of Privatization Commission Board approved various deci­sions including the proceed­ings of the previous meeting of PCB. The board considered the report of evaluation commit­tee on hiring of financial advi­sor (FA) for private sector par­ticipation in 3 DISCOs namely, GEPCO, FESCO and IESCO and took decisions with regards to adopting the process for hir­ing of the FA from panel of pre-qualified financial advisors as provided in Regulation 3(2)(c) of Privatisation Commission (Hiring of Financial Advisers) Regulations, 2018. The board also approved initiation of pro­cess for hiring of FAs from pan­el of pre-qualified financial ad­visors for privatisation of Zarai Taraqiati Bank Ltd. (ZTBL) and the Utility Stores Corporation (USC). The board resolved to ensure maximum competition and utmost transparency in all privatization transactions.