ISLAMABAD, Pakistan: The Ministry of Privatization has planned the auction of Lahore’s Services International Hotel (SIH) on August 26, 2021.
The property is located on Mall Road in Lahore, the investors have the choice to exercise mix-use option while developing the property.
The current value of Rs 1,949,718,500 (Rs 1.949 billion) has been fixed and duly approved by the Federal Cabinet.
The privatization program is an integral part of the governance reforms agenda, this will enable these State-Owned Enterprises (SOEs) to gradually wean from dependence on the government.
It will also enable the government to spend more on the social sector and thereby giving the masses better facilities of life.
The Federal Minister for Privatization Mohammed Mian Soomro said that we hope that the transaction of the SIH is completed in the best possible manner while ensuring transparency and openness.