Govt has selected seven institutions for privatisation: IMF
Last updated on: 09 July,2019 02:50 pm
The audit report of PIA and Pakistan Steel Mills will be published by December 2019.
ISLAMABAD (Dunya News) – The International Monetary Fund (IMF) has stated that the government of Pakistan has selected seven institutions for privatisation and the audit of Pakistan International Airways (PIA) and Pakistan Steel Mills would be conducted by a foreign firm.
According to a report issued by the global moneylender, the debt of PIA, Pakistan Steel Mills and Pakistan Railways has been increasing, and the state institutions would be divided into three categories.
Afterwards, some of those institutions will be sold out, some of those institutions will be shutdown and it will be decided to keep the remaining departments under custody of the state.
The audit report of PIA and Pakistan Steel Mills will be published by December 2019.
Furthermore, it is mentioned that in order to run the state institutions, the draft bill of the state-owned enterprises will be presented in the parliament for debate in September 2020, and the IMF will provide technical support in the preparation of the draft bill.