ISLAMABAD, Pakistan: The Federal Minister for Privatization Muhammad Mian Soomro has told the National Assembly that as many as 18 Public Sector Entities (PSEs) approved by the competent forum are currently in the process of privatization, selected from different sectors including some ailing entities like Pakistan Steel Mills Corporations and SME bank.
In a written reply to a question by Pakistan Muslim League-Nawaz (PML-N) MNA Ali Gohar Khan, the minister told the House that out of these 18 PSEs, the process for 6 Entities (two PLNG power plants, SME Bank, Services International Hotel Lahore, Pakistan Steel Mills Corporations, & Jinnah Convention Centre Islamabad) is at advance stage and the transactions are likely to be completed in third quarter of current Financial Year.
The minister told that the Privatization Commission in consultation with the Ministry of Industries & Production is working expeditiously for revival of Pakistan Steel Mills.
Mian Soomro further told that under the Ordinance 2000, the Privatization Commission is mandated to undertake privatization process of PSEs recommended by the concerned administrative ministries/divisions and approved by the Cabinet Committee on Privatization (CCoP), ratified by the Cabinet.
Following 18 PSEs are in Active Privatization Programme;
- 1223 MW Balloki Power Plant
- 1230 MW Haveli Bahadur Power Plant
- SME Bank Limited
- First Women Bank Limited
- Services International Hotel, Lahore
- Jinnah Convention Centre, Islamabad
- Mari Petroleum Limited (divestment of remaining shares)
- Pakistan Steel Mills (revival)
- Pakistan Engineering Company (PECO)
- Heavy Electrical Complex (HEC)
- Sindh Engineering Limited (SEL)
- House Building Finance Corporation (HBFC)
- Pakistan Re-Insurance Co. Ltd. (PakRe)
- State Life Insurance Corporation (SLIC)
- Oil and Gas development Company Limited (OGDCL)
- Pakistan Petroleum Limited (PPL)
- Guddu Power Plant (747 MW) – Central Power Generation Company Ltd -CPGCL (GENCO – II)
- Nandipur Power Plant (425 MW) – Northern Power Generation Company Ltd – NPGCL (GENCO – III)