Islamabad, NA committee on privatization met today, Privatization of PIA and Utility Stores Corporations discussed


By, Asghar Ali Mubarak, February, 28, 2018

Islamabad, NA committee on privatization meet today, Privatization of PIA and Utility Stores Corporations discussedIslamabad, 45th meeting of the Standing Committee on Privatization was held today under the Chairmanship of Syed Imran Ahmad Shah, MNA. After the general proceedings Committee was briefed about agenda item no. 1 that recommendations are noted for the compliance and these will be implemented in letter and spirit. However regarding agenda item No. 3 it was a briefed to the committee that PSDP for financial year 2018-19 may be treated as nil.

The Committee was briefed about Privatization of Pakistan International Airline (PIA). It was informed that the process of Privatization was initiated under the Pakistan International Airlines Corporation (Conversion) Act, 2016. The said Act was unanimously passed by the Assembly. All the steps regarding sales and purchase of the assets of PIA will be treated strictly in accordance with the parameters prescribed under the said Act. However the Privatization of PIA is quite distinguishable then any other Privatization i.e. PTCL etc., because of the fact that neither the control on the employees nor more than 49% of the shares are going to be Privatized. In this way the Federal Government would remain the capital share holder even after the Privatization.

It was recommended that Committee be briefed in its next meeting about the procedural steps and recommendations made by The Financial Advisory Consortium (FAC) for Privatization of PIA. It was also recommended that the Committee shall be briefed about the steps taken by the Ministry regarding Privatization of Utility Stores Corporation of Pakistan alongwith reasons and justifications whereof.

The honorable participants /MNAs/Movers Choudhary Iftikhar Nazir, Lt. Col. (Retd.) Ghulam Rasul Sahi, Mr. Imran Zafar Leghari, Ms. Munaza Hassan, Dr. Imran Khattak, Mr. Abdul Waseem, attended the meeting besides the minister for Privatization and senior officers from the Ministry of Privatization with their staff.

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