Privatization to be transparent: Ishaq Dar

Islamabad: Finance Minister Senator Ishaq Dar has said that privatization is one of the top most policy priorities of the government of Prime Minister Nawaz Sharif. He made these observations during a presentation by the Privatization Commission at the Finance Minister’s office on Wednesday.

The Finance Minister was briefed about various stages involved in privatization process and time lines. The Minister directed that the schedule should be reviewed and made more realistic so that privatization can be fast tracked.

The Finance Minister said that privatization of state owned entities shall be carried out on fast track basis without compromising rules and regulations and in a transparent manner. He further directed the Privatization Commission to identify those state owned entities that can be privatized in the first stage.

The Finance Minister reiterated that no compromise on the transparency of the privatization process will be tolerated. The Secretary Privatization Commission Mr. Amjad Ali Khan briefed the Finance Minister on the progress made so far in the transfer of properties to PTCL.

The Finance Minister, it may be recalled, had earlier directed the Secretary Privatization Commission to resolve the issue of transfer of properties to PTCL in order to receive the years old recoverable amount of US $ 800 million from Etisalat.

The Secretary Privatization Commission informed the Finance Minister that 64 SOE’s state owned enterprises have yet to be privatized which were approved for privatization by the previous government.

The Finance Minister accepted a proposal of the Privatization Commission that while reconstituting the boards of SOE’s, one member of the Board should be the nominee of the Privatization Commission.