ISLAMABAD: Mohammad Ishaq Dar, Deputy Prime Minister and Foreign Minister (DPM/FM), chaired a meeting of the Cabinet Committee on Privatization (CCoP) to review progress on the privatization process, including the proposed divestment of a majority stake in Pakistan International Airlines Corporation Limited (PIACL).
DPM/FM Ishaq Dar reviews reserve price for PIACL divestment
During the meeting, the Privatisation Commission and the Ministry of Privatisation briefed the committee on the overall privatization framework. A summary was presented for consideration of the reserve price, as approved by the Privatisation Commission Board, for the divestment of a 75 percent stake in PIACL.
CCoP endorses proposal for federal cabinet review
The committee reviewed the process undertaken by the Privatisation Commission and deliberated on the board’s recommendations related to the PIACL transaction. The CCoP endorsed the proposal for onward submission to the federal cabinet for further consideration.
Emphasis on legal compliance and transparency
The deputy prime minister Ishaq Dardirected concerned officials to strictly adhere to government policies, applicable laws, and established procedures while executing privatization transactions. He also emphasized maintaining transparency and ensuring a level playing field for all participants, while applying internationally recognized privatization practices.
Ministers and senior officials attend meeting
The meeting was attended by the ministers for finance, power, and commerce; advisers to the prime minister on privatization and industry and production; special assistants to the prime minister Tariq Bajwa and Bilal Kiyani; and federal secretaries from the cabinet, privatization, planning, commerce, defence, law, power, along with officials of the Privatisation Commission.
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