The Cabinet Committee on Privatization (CCoP) has approved a price ceiling for the privatization of Services International Hotel (SIH), Lahore.
The CCoP meeting, held with Federal Minister for Finance and Revenue Mr. Shaukat Tarin in the chair on Friday, approved the summary tabled by the Privatization Commission Board, recommending the highest bid of about Rs. 1.96 billion received after the auction proceedings for the privatization of (SIH).
During the course of the meeting, Secretary Privatization Commission Board Hassan Nasir Jamy updated the participants about the actions being taken to privatize or restructure entities with respective timelines.
In his remarks, Finance Minister Mr. Tarin directed for accelerating the whole process with due diligence in order to bring efficiency to the public sector. He stated that the government was firmly committed to the reform agenda, focusing on improvement in the functions of the state-owned enterprises to make them profitable and sustainable.
Federal Minister for Planning, Development and Special Initiatives Asad Umar, Federal Minister for Privatization Muhammad Mian Soomro, Federal Secretaries, Chairman Securities & Exchange Commission of Pakistan (SECP) Shaukat Hussain, and a number of senior officers attended the meeting. Advisor to Prime Minister on Commerce Abdul Razak Dawood joined the meeting through a video link.
