Federal Minister for Investment Board, Communications, and Privatisation Abdul Aleem Khan stressed on Thursday the urgency of privatizing loss-making institutions to alleviate the burden on the national treasury and strengthen the economy.
He made these remarks while presiding over the 223rd session of the Privatization Board in Islamabad.
Highlighting the importance of swift action, the minister stated, "Privatisation of loss-making institutions is paramount. According to the law, these matters must be handled quickly."
He further stressed the need for confidentiality where necessary, particularly in privatization transactions, to ensure the integrity of the process.
The minister pointed out that the country's improving economic indicators, as reflected in the latest credit rating, demonstrate the potential benefits of privatization.
"The positive rating is a clear proof of the economic stability that can be achieved through reducing the fiscal burden of inefficient public enterprises," he said.
During the session, Mr Aleem Khan provided a detailed briefing on various ongoing issues related to the privatization process. Abdul Aleem Khan reiterated his commitment to conducting privatisation with the broader national interest in mind, ensuring that the process remains transparent and effective.
Moreover, the minister noted that more institutions are being added to the list of entities slated for privatization. "The Cabinet Committee will make the final decision based on the Privatization Board's recommendations," he added.
Abdul Aleem Khan directed the officers of the Privatisation Board to exercise caution in their duties, emphasising that there should be no lapses in the process.
He also underscored the importance of timely preparation of relevant documents and data to facilitate a smooth and efficient privatization process.
