Privatisation of six SOEs to bring Rs150bn revenue for govt

ISLAMABAD: Privatisation of as many as six State-Owned Enterprises (SOEs) is expected to fetch a sum of Rs150 billion for the government by June 30.

This was announced by Federal Minister for Privatisation Muhammad Mian Soomro, who further revealed that the enterprises in question were none other than Sind Engineering, SME Bank, Guddu power plant, Pakistan Steel Mills (PSM), First Women Bank Limited and Jinnah Convention Centre.

“Government is committed to pushing ahead with its privatisation programme by completing all targeted transactions within the stipulated time – by the end of this financial year,” he said. “It is after a gap of 10 years that strategic sale of public entities is being initiated in the country by the current government.”

Soomro, who reiterated that efficacy and transparency would be the key elements in the entire process, said that companies from Japan, Thailand, South Korea and Malaysia have shown interest in the privatisation programme.

For more news and blogs, visit Graana.com.