A meeting of the Privatisation Commission Board, chaired by Privatisation Adviser Muhammad Ali, reviewed progress on major privatisation initiatives and took several key decisions regarding ongoing and future projects.
According to an official statement, the board decided to terminate the current privatisation process of the House Building Finance Company and initiate a fresh process. It also recommended the appointment of a new financial adviser to steer the privatisation of the House Building Finance Corporation in a more effective and competitive manner.
The board further decided to cancel the ongoing process for the appointment of a financial adviser for the privatisation of the Roosevelt Hotel in New York. It approved inviting fresh applications for the appointment of a new financial adviser for the Roosevelt Hotel project.
In another significant development, the board recommended the inclusion of Islamabad International Airport in the government’s privatisation programme. It was decided that the privatisation of the airport would be carried out under a concession model. The board also approved the initiation of negotiations with the Asian Development Bank in this regard.
The meeting also approved the establishment of a transaction committee for the privatization of Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO).
The Privatisation Commission reiterated its commitment to ensuring a transparent, competitive and credible privatization process, aimed at improving efficiency, attracting investment and reducing the financial burden on the government.