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Govt to generate $4.5b thru privatising 12 public sector entities

Govt to generate $4.5b thru privatising 12 public sector entities

ISLAMABAD: The government has planned to generate $4.5 billion through privatising more than 12 public sector entities during the current fiscal year.

This was stated by Minister of State for Privatisation Muhmmad Zubair, while addressing the second day of the International Investment Conference. He told the foreign investors that there were huge opportunities of investment on Pakistan as the government had planned to privatise OGDCL in November, Allied Bank Limited in December, Habib Bank Limited in March next year, and LESCO, IESCO and FESCO in June next year, while privatisation of Pakistan International Airlines (PIA) and Pakistan Steel Mills would be made in October next year.

The minister Pakistan could save 4 per cent of the GDP every year just by resolving the issues of militancy and shortage of power.

Speaking on the occasion, Information Minister Senator Pervaiz Rasheed and Board of Investment Chairman Dr Miftah Ismail said that organizing the conference in Pakistan was a big achievement of the government as the conference was successful more than the expectations.