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Govt to establish ‘Sarmaya-e-Pakistan Limited’ to control state enterprises: Asad Umar

Govt to establish ‘Sarmaya-e-Pakistan Limited’ to control state enterprises: Asad Umar

ISLAMABAD: Federal Finance Minister Asad Umar has said that government will control Pakistan state enterprises through establishing a new holding company “Sarmaya-e-Pakistan Limited (SPL)”.

In reply to the question of PPP Member National Assembly Nafisa Shah, Asad Umar stated that government is working on a strategy to revive Public Sector Enterprises (PSEs) through prudent policy measures.

In order to revive these entities, a multidimensional strategy has been adopted that will address management restructuring, bringing in dynamic and experienced board composition along with professional and technical oversight of the working of PSEs.

After detailed deliberations, it has been decided that PSEs will be gradually taken out from the administrative control of ministries/divisions and shall be placed with a new holding company namely “Sarmaya-e-Pakistan Limited (SPL)”.

The SPL shall be managed and controlled by skilled professionals and its board shall comprise of eminent persons from diverse fields.

He said the privatization list has been reviewed. Several entities which were on the list of privatization for decades have been taken out and a comprehensive revival plan of these entities is being worked out whereas, same PSEs have been put on active list for privatization in due course.