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Asad Umar chairs CCoP meeting

ISLAMABAD: Federal Finance Minister Asad Umar on Wednesday chaired meeting of Cabinet Committee on Privatisation (CCoP).

During the meeting, Secretary Privatisation Division briefed the meeting on privatisation process of public sector enterprises (PSEs) on active list.

Secretary Privatization Division gave the meeting an update on privatization process of public sector entities on the active privatization list including RLNG Power Plants (Balloki and Haveli Bahadurshah) under National Power Parks Management Company (NPPMCL), Lakhra Coal Mines and Services International Hotel. Matters relating to divestment of govt’s residual shares in Mari Petroleum Company also came under discussion.

With a view to facilitating simultaneous and smooth privatization of both RLNG plants, the CCOP gave its nod of approval for privatization of the NPPMCL. CCOP also accorded go ahead to divest residual govt. shares of 18.39 % in Mari Petroleum Company Ltd.

In case of Lakhra Coal Mines, the CCOP directed that since the matter is subjudice its privatization process may be pursued only after decision by the Supreme Court.

The CCOP also noted the updated position on KE as shared by the Secretary Privatization.

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