ISLAMABAD, Dec 11: Minister for Privatization and Investment Dr Abdul Hafeez Shaikh has said that the sell-off process of state units is aimed at generating new job opportunities for the common man.

He stated this while addressing the agreement signing and handing over ceremony of Associated Cement Rohri Company to the representative of the successful bidder National Transport Company, Syed Shoaib Khursheed, here on Thursday.

Privatization Commission has so far realized more than Rs17 billion through privatization process, including the sale of Associated Cement Rohri in the first year of the government.

The minister said that the government was determined to accelerate the pace of privatization with utmost transparency.

“We would never sell our national assets in haste and on throwaway prices and there would be no compromise on our national interests”, he added.

He said that the announcement by the new buyer for reviving the cement unit and to start its operation soon would provide job opportunities to around 250 individuals.

“The buyer has completely paid the offered bid amount of Rs255 million to the Commission on December 1, 2003,” the minister added.

—APP