Summary Minister for Privatisation Muhammad Zubair addressed media in Islamabad.
ISLAMABAD (Web Desk) – The federal government stands firm on its decision to privatise forty state institutions as per schedule on the dictation of International Monetary Fund (IMF), Dunya News reported.
Minister for Privatisation, Muhammad Zubair said the government is taking every possible step to increase foreign investment in Pakistan. Forty institutions will be privatised timely under the IMF programme, he added.
He said these institutions are causing more than 400 billion rupees loss.
The minister further stated that steel mills are causing around Rs 2 billion loss to national exchequer despite their closure.
He said aviation companies of China and two gulf countries have shown interest in purchasing 26% shares of Pakistan International Airlines (PIA) while 74% shares of Faisalabad Electric Supply Company (FESCO) will be auctioned by May 2016.
Power supplying companies in Lahore and Islamabad will be privatised as well, he added.
Earlier today, Finance Minister Ishaq Dar informed the National Assembly that an understanding has been reached with the Opposition to form a Joint Parliamentary Committee to take up the issue of PIA.
He said the Committee will allay the fears of PIA employees regarding restructuring of the airline.
