March 25, 2003	Tuesday	Muharram 21, 1424

ISLAMABAD, March 24: Prime Minister’s Adviser on Privatization and Investment Dr Hafeez Sheikh said on Monday after the bidding of the PSO, to be held on April 26, the privatization of big entities like the HBL, the PTCL, the KESC and the OGDC would also be undertaken according to the programme.

The privatization of these state-owned entities will not only bring efficiency in consumer services through the introduction of new technologies but will also attract more investment, besides creating new jobs.

In an informal chat with the newsmen before leaving for China, along with Prime Minister Zafarullah Jamali, he said the government had already reconstituted a nine-member Privatization Commission Board to speed up the process of privatization and the first meeting of the reconstituted board is likely to be held in the first week of April.

The adviser said the Privatization Commission has so far realized a record Rs2.9 billion by floating the shares of state-owned entities in the country’s stock market.

He said, encouraged by these results and with the aim of sharing the fruits of privatization with common man and to broaden the base of stock market, more shares of state-owned entities like the NBP, the PTCL, the Sui Northern, the PIA and the OGDC will be floated in the market.

Dr Hafeez said the privatization of state-owned entities would not only stabilize the prices but would also help check the budget deficit through reduction in cost.—APP