Privatization of SME Bank and Others to be Completed this Year

According to the PC Board during the current fiscal year, the privatization of a SME Bank, SIH, JCC, and HEC will be completed.

According to the Privatization Commission (PC) Board during the current fiscal year, the privatization of an SME Bank, Services International Hotel (SIH), Jinnah Convention Center (JCC), and Heavy Electrical Complex (HEC) will be completed.

According to PC board, consent from the stakeholders has been received regarding the take or pay issues in the privatization of National Power Parks Management Co. Ltd (NPPMCL). In the regard, the concerned divisions will submit a summary to the Cabinet committee on privatization (CCoP).

A meeting of the PC board was held which discussed privatization matters and about the latest progress made in the transactions of House Building Finance Corporation (HBFCL), Jinnah Convention Center (JCC), and First Women Bank (FWB) which are at advanced stages.

It is further said that Privatisation Board Chairman Mohammed Mian Soomro added that through the privatization of PSEs, the government wants to bring efficiency in various sectors along with revenue generation for debt retirement and poverty alleviation.

Leave a Reply

Your email address will not be published. Required fields are marked *