Govt takes privatisation-related powers away from high courts for a swift process
Business
A three-member will deal with affairs; Supreme Court can hear the appeals
ISLAMABAD (Dunya News/Web Desk) – The caretaker government on Thursday introduced changes in the laws regulating the affairs of Privatisation Commission – a move that shows the seriousness Islamabad is showing in dealing with the state-owned enterprises (SOEs) like PIA and Pakistan Steel Mills which have been draining the precious resources.
It also coincides with the demands presented by the International Monetary Fund (IMF), stressing reduction in fiscal deficit through a combination of different measures including privatisation and withdrawal of subsidies, especially in energy sector.
Read more: Privatisation: IMF demands latest data of state-owned enterprises
The Privatisation Commission (Amendment) Ordinance 2023 signed by President Arif Alvi aims at ensuring removal of delay in the privatisation of different entities and streamlining the related laws for a swift process.
In this connection, amendments have been made different sections, besides removal of Section 30 and 33, which stipulate formation of Privatisation Appellate Tribunal with the authority to hear and decides the related civil and criminal matters.
Hence, the powers given to the high courts – enabling to look into the transactions and other matters – through the original law [Privatisation Commission Ordinance 2000] are now transferred to the Privatisation Appellate Tribunal.
It will comprise three members, to be appointed by the federal government, and headed by a retired Supreme Court judge as a chairperson. The remaining two spots will be filled by member (technical) and member (judicial).
However, the decisions made by the tribunal could be challenged in the Supreme Court, says the ordinance issued by the president under Article 89 (1) of the Constitution.
