The Privatisation Commission has asked four tempered/second-hand fuel-efficient vehicles from the Federal Board of Revenue to expedite the privatization of loss-making Public Sector Enterprise (PSEs) on a fast-track basis.
PC has written a letter to Member Customs operations with regard to the provision of tempered/second-hand cars to the privatization commission for official use.
Pursuant to the decision of the government/Cabinet Committee on Privatisation (CCOP) regarding the current privatization program, PC is deliberating on the privatization of PSEs included in the program on a fast track basis.
The PC in its letter stated that the department is conducting back-to-back meetings with the representatives of National and International Investors, Bankers, Chartered Accountants, Lawyers, Financial Advisors, Federal Secretaries of the line Ministries, heads of respective Companies/ Organizations, representatives of Multinational Companies and PC Board Members for early completion of the process as directed by CCOP, therefore, the workload of PC has intensified exponentially.
It stated that old and obsolete official vehicles, available with the PC, are unable to meet the demands of the hectic schedule of the Commission and its operational functions are being badly affected.
The present government has announced austerity measures, therefore, the procurement of new vehicles at this stage is not considered, it communicated to member operations customs.
FBR is, therefore, requested to provide four tempered /second-hand fuel-efficient cars to PC as a government-to-government transaction as per the terms and conditions of Pakistan Customs.
Recently, the PC board has given the approval to hire financial advisors for the privatization of Pakistan International Airline.
It merits mentioning here that PC was established in January 1991 under the umbrella of the Finance Division vide Notification No. F.5(1)Admn-1/91, dated 22-01-1991. On promulgation of the Privatisation Commission Ordinance, 2000 (Ordinance No. 1,11 of 2000), the Privatisation Commission (PC) was reconstituted as a Body Corporate under Section 3 (1&2) of the Ordinance, 2000.