Along with politicians, experts have also been included in the board, the Minister of Privatization will be the chairman of the board. Photo: File
Islamabad: Prime Minister Shahbaz Sharif has approved the new board members of the Privatization Commission, which includes political and professional figures.
The purpose of setting up the new Privatization Commission Board is to complete the privatization process in a transparent and speedy manner. Special Assistant to the Prime Minister on Privatization Jahanzeb Khan has been included in the board after taking legal opinion from the Ministry of Law.
Apart from this, Shahbaz Jameel, former president of Zaree Development Bank, Farrukh Habib Khan, former CEO of Pakistan Stock Exchange, Parvez Khan, Javed Sheikh, senior partner of JSSR Consultants, former chairperson of Sindh Investment Board, CEO of Oracle Power Naheed Memon, Pir Saad Ehsanuddin and Rasool Bakhsh Phalphoto have been appointed as members of the Privatization Commission. Will perform.
Also read: Privatization of 178 government enterprises in 32 years, Ministry of Privatization
It should be noted that the government dissolved the board of Privatization Commission a day ago, among the members of the dissolved board were Zafar Iqbal, Engineer Abdul Jabbar Memon, Zafar Iqbal Subani, Arsla Khan Hoti, Khuram Shahzad, Ashfaq Tola, Yawar Irfan Khan and Atrat Hussain Rizvi.
A board member of the disbanded Privatization Commission said on condition of anonymity that the board had completed its homework for privatization of power distribution companies, PIA and steel mills, but no government could take these difficult decisions.
Also read: Advise the government to follow the privatization policy
It should be noted that the Prime Minister has created a new board to avoid the complicated process of privatization, so that the process of privatization can be carried out at a fast speed without any hindrance. To achieve this goal, the government has implemented the Intergovernmental Commercial Transactions Act, with the help of which, bypassing the laws related to privatization, the government handed over the terminals of Karachi Port Trust to the UAE for 25 years last month.
The government is also mulling new legislation to establish the Pakistan Sovereign Wealth Fund to speed up the privatization process. Through this legislation, the government intends to make the fund exempt from three privatization acts, the Privatization Commission Ordinance, the Public Procurement Regulatory Authority Ordinance and the State and Enterprises Act 2023.
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