ISLAMABAD, March 21: Pakistan's Privatisation Board is meeting here on Thursday to discuss the early disinvestment of a number of transactions, including PSO, UBL and HBL.

"There is a fairly big agenda for tomorrow's meeting which also includes discussion and time-frame for privatisation of Pakistan State Oil, United Bank Limited and Habib Bank Limited," said minister for privatisation and investment, Zahid Hamid.

He told Dawn on Wednesday that the board meeting would also discuss further accelerating the privatisation process for many other upcoming transactions.

Responding to a question, he said the meeting would also discuss disinvestment of bigger state sector units.

"But before that we need to complete other ongoing transactions in a most transparent manner so that nobody challenges them later at any stage," said Mr Hamid.

All transactions completed, so far, by the present government were handed to local and foreign investors without indulging in any unlawful activity, he added.

He said mega institutions, like Railways, PIA, CAA, ports and shipping, etc., were being planned for their privatisation.

To a question, he said the initial public offering (IPO) of the Habib Bank Limited (HBL) was likely to be completed by June.

Similarly, the global depository receipt (GDR) of UBL and Kot Addu Power Company (KAPCO) were expected to be completed by the end of the current financial year.

Asked about the Pakistan Petroleum Limited (PPL), he said various issues were currently being discussed and finalised with Balochistan government to complete this transaction.

He said the legal matters pertaining to disinvestment of National Bank of Pakistan (NBP), which also conducts the treasury functions on behalf of the government, will be finalised soon. The central bank, he said, would be proposing certain legal amendments for the privatisation of the national bank.The government planned to disinvest Heavy Electrical Complex (HEC), Hazara Phosphate, National Power Construction, National Investment Trust (NIT), Small and Medium Enterprise (SME) Bank, coal and salt mines of Pakistan Mineral Development Corporation (PMDC) within this current financial year for which financial advisors were being appointed.

Asked about delay in the privatisation of Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipeline Limited (SNGPL), he said some technical issues, including those related to tariffs, were being sorted out to complete both the transactions.

He said strategic shares of the Jamshoro power company were likely to be offloaded by June this year for which various formalities were currently being completed.

To a question, the minister said since 1991, a total of $7 billion were collected on account of sale of various public sector entities, which also included $6.1 billion collected during the last seven years of the present government.

"It means 87 per cent of funds were collected by our government," he said, adding that 61 transactions were completed during this period.