The federal Minister for Finance and Revenue, Shaukat Tarin, chaired a meeting of the Cabinet Committee on Privatization (CCOP) on Wednesday (23 June).
The attendees discussed the proposal for the divestment of the federal government’s shares in Mari Petroleum Company Limited. After comprehensive deliberation, the chair directed the Privatization Commission and the Ministry of Petroleum to further examine the issue in light of today’s discussion and to come up with a comprehensive proposal during the next meeting of the CCOP.
They discussed the proposal for the privatization of the Services International Hotel, and after a thorough debate, approved the revised reserve price subject to further approval by the federal Cabinet.
The CCOP examined the proposal for the removal of the Pakistan Engineering Company (PECO) from the active privatization list.
It directed the constitution of a committee consisting of representatives of the Privatization Commission, the Law Division, the Establishment Division, the Industries and Production Division, the Finance Division, and the SECP to thoroughly analyze the case and come up with its proposals on the issues highlighted in the meeting.
The meeting was attended by the federal Minister for Privatization, Muhammad Mian Soomro; the federal Minister for Industries and Production, Makhdum Khusro Bakhtyar; the Adviser to the Prime Minister (PM) on Institutional Reforms and Austerity, Dr. Ishrat Hussain; the Special Assistant to the PM on Petroleum, Tabish Gauhar; the Secretary Privatization Commission, the Secretary Petroleum Division, the Secretary Industries and Production, and other relevant officials.