ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin chaired a meeting of the Cabinet Committee on Privatisation (CCOP) which reviewed the proposal to remove Pakistan Engineering Company (PECO) from the active privatisation list.

CCOP directed the constitution of a committee consisting of representatives of the privatisation commission, law division, establishment division, industries and production division, finance division and Securities and Exchange Commission of Pakistan (SECP) to thoroughly analyze the case and come up with its proposals on issues highlighted in the meeting.

The meeting discussed the proposal for divestment of the government of Pakistan’s shares in Mari Petroleum Company Limited. After comprehensive deliberation, the chair directed the privatisation commission and ministry of petroleum further to examine the issue in light of today’s discussion and develop comprehensive proposals during the next CCOP meeting. 

The meeting discussed the proposal for privatisation of Services International Hotel and, after the thorough debate, approved the revised reserve price subject to further approval by the federal cabinet. 

The meeting was attended by Federal Minister for Privatisation Muhammad Mian Soomro, Federal Minister for Industries and Production Makhdum Khusro Bakhtyar, Adviser to the Prime Minister on Institutional Reforms and Austerity Dr Ishrat Hussain, amongst others.


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