ISLAMABAD: The Senate Standing Committee on Privatization was informed on Thursday that since 1991 the Privatization Commission had completed 178 transactions against the value of Rs 649,114 million.
The meeting was held here under the chairmanship of Senator Shamim Afridi and was attended by Senators Syed Muhammad Sabir Shah, Anwar Lal Dean, Molvi Faiz Muhammad, Umer Farooq, and senior officers of the Ministry of Privatization along with its attached departments and agencies, said a press release issued here.
Issues taken up included a briefing by the Ministry of Privatization regarding the privatization of the Convention Center, Islamabad; Privatized Government entities the process for which has not been completed; Auctioning of one of two buildings in Washington owned by the Pakistan Embassy.
While being briefed by the Ministry regarding the privatization of the Convention Center (JCC), Islamabad the Committee was of the view that details of the meeting held regarding this property by the Cabinet Division may be submitted to the Committee.
The Ministry informed the Committee that the meeting in the Cabinet was held to reiterate the recommendations of the Committee and urge the Ministry to implement all recommendations at the earliest.
The Ministry further revealed that the property did not belong to CDA and was sold to the Ministry of Interior.
The Committee directed that the Ministry of Interior be summoned to the next meeting.
Federal Minister for Privatization and Chairman Privatization Commission Abid Hussain Bhayo, assured the Committee that no negotiations regarding any state property will be held on the stealth and that the Committee will be appraised regarding all activities of the Ministry.
He further stated since strong recommendations were made by the Committee to revisit its decision to privatise JCC, the Ministry is reviewing the matter and is devising alternative ways to generate funds.
The enterprises that awaited financial closure include Pak China Fertilizer Company; Pak PVC Limited; Sindh Alkalis Limited; Baluchistan Wheel Limited; Dandot Works of National Cement (PVT) Limited (Awan National Cement); Haripur Vegetable Oil Processing Industries (Friends Vegetable Ghee Mills); National Fibers Limited; Crescent Factories Vegetable Ghee Mills(SJ Industries); Mubarakpur Rice Mills; Fareed Tawakkal (Navadoor Motors) and PTCL
Regarding Auctioning of one of two buildings in Washington owned by the Pakistan Embassy, the Comm ittee was informed that the matter pertained to the Foreign Office.
The Committee will summon representatives of the Ministry of Foreign Affairs for a detailed briefing in the next meeting.