Tuesday, February 7, 2023

Govt announces to start privatization of public sectors burdening national exchequer

Govt announces to start privatization of public sectors burdening national exchequer
ISLAMABAD (92 News) – The government announced to start privatization of several public sectors which burdening on the national exchequer. This was stated by Special Assistant on Information Firdous Ashiq Awan during a joint press conference along with Minister for Privatization Muhammad Mian Soomro. She said that the government will ensure transparency and accountability in the privatization process of public sector enterprises. Firdous Ashiq Awan said that privatization of loss-making entities is the government’s top priority. “Mian Soomro is effectively moving the reforms agenda forward. Public money should not be spent on loss-making entities,” she maintained. The special assistant said that the government is introducing reforms to make the state enterprises profitable. On the occasion, Mian Soomro said rules of Public Procurement Regulatory Authority and past court judgments will be fully observed while carrying out the privatization of the state owned entities. He said bids have been received for Haveli Bahadur Shah Plant of 1230 MW and Balloki plant of 1,223 MW, which shows their trust on present government's economic policies. He said sale transactions of six entities will be completed this financial year.