ISLAMABAD:
A Senate panel was told on Monday that four out of five companies that submitted statements of qualification (SOQs) for Pakistan International Airlines (PIA) have been declared eligible.
Secretary for Privatisation informed the Senate Standing Committee that site visits and conferences were underway, after which the bidding phase will begin.
During the committee meeting, chaired by Senator Afnanullah on Monday, the privatisation of PIA, Pakistan Mineral Development Corporation (PMDC), as well as power generation companies (GENCOs) and distribution companies (DISCOs) came under discussion.
Members of the committee suggested removing PMDC from the privatisa-tion list, while the committee also summoned National Electric Power Regulatory Authority (NEPRA) officials to discuss the privatisation of DISCOs.
Briefing the committee, the joint secretary of the Power Division said that eight out of nine issues at Nandipur and four out of nine at Guddu have been resolved.
He added that two GENCO plants remain on the privatisation list and that both DISCOs and GENCOs are currently undergoing the privatisation process.
The secretary for privatisation remarked that institutions making profits today may not necessarily remain profitable in the future.
“The government’s role is not to run power plants or transport companies. After privatisation, the government will earn revenue, while the private sector will improve performance and recovery,” he said.
The chief financial officer of PMDC informed that the corporation gener-ates an annual revenue of Rs5.40 billion and produces 1.5 million tonnes of salt annually.
On PIA, the secretary for privatisation reiterated that five companies had submitted SOQs, four of which were declared eligible.
