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business
Thursday Mar 05 2020
By
Web Desk

PM Imran says selling non-profit making entities in national interest

By
Web Desk
Prime Minister Imran Khan. Photo: File

ISLAMABAD: Prime Minister Imran Khan has directed his advisers to complete the privatisation process on time with better inter-ministerial coordination, saying that the sell-off of non-profit-making entities is in the national interest, reported The News on Thursday.

He said this while presiding over a meeting on Wednesday to review the progress so far made in connection with the privatisation of state institutions and properties. 

Also read: PTI-led government to privatise 33 state-owned entities: report

PM Imran chairs meeting on privatisation

The meeting was attended by Minister for Planning and Development Asad Umar, Minister for Privatisation Muhammad Mian Soomro, Adviser to PM on Finance Dr Abdul Hafeez Shaikh, Adviser to PM on Trade and Commerce Abdul Razak Dawood, Special Assistant to PM on Information and Broadcasting Dr Firdous Ashiq Awan and Adviser to PM on Reforms Dr Ishrat Hussain. 

The meeting was informed that during the current year, seven institutions and properties would be privatised and these included two RLNG power plants, SME Bank, Services International Hotel, Jinnah Convention Centre, Islamabad and 27 other state-owned properties.

Also read: Cabinet committee approves privatisation of five state-owned entities

The prime minister was told that these transactions would be completed in May and June this year. Addressing the forum, prime minister said that non-profit-making entities and unused state-owned properties privatisation was in the national interest. 

Meanwhile, the prime minister said Pakistan is moving on the road to development with accelerated development spending. In a tweet, he said the rupee is stable, the current account deficit is down by 73 percent, exports are growing and cement sales have risen.

Also read: Cabinet committee approves auctioning of 27 state owned land assets

Bilawal Bhutto. Photo:file

In his reaction, Pakistan Peoples’ Party (PPP) Chairman Bilawal Bhutto Zardari said that his party would not let the puppet government privatise the national institutions.

Addressing a ceremony in Lahore on Wednesday, he said whenever a puppet government comes into power, it starts selling the country’s assets, adding that his party won’t let the government sell those.

Originally published in The News