ISLAMABAD:The Cabinet Committee on Privatization (CCOP) Monday considered a summary on privatisation of SME Bank Limited and after detailed discussion it decided to delist SME Bank from the Privatisation Programme, enabling State Bank of Pakistan (SBP) and Finance Division to proceed further with alternate options.
Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the meeting which was attended by
Federal Minister for Power Khurram Dastgir Khan, Federal Minister for Privatization/Chairman Privatization Commission
Abid Hussain Bhayo, Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, Special Assistant to the Prime Minister (SAPM) on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, SAPM on government effectiveness Dr. Muhammad Jehanzeb Khan, Federal secretaries and other senior officials.
Privatisation Commission tabled a summary related to Privatisation of Services International Hotel (HIS) and updated the Committee on process of privatisation of HIS till date. The CCoP after detailed deliberation referred the matter to Law and Justice Division for review of its earlier advice.
Regarding privatisation of PIA Investment Ltd. (PIA-IL) Owned Asset- Roosevelt Hotel, New York, the CCoP decided to uphold its earlier decision dated July 02, 2022 , where the meeting directed the Privatisation Commission (PC) to initiate the process of appointment of Financial Adviser (FA) to undertake envisaged leasing of Roosevelt site for meeting up a Joint Venture project for prospective mixed-used development, through the best-suited mode of Privatisation.