ISLAMABAD: The government has finalised its privatisation programme for this fiscal year which involves eight capital market transactions and strategic and asset sale of 19 public sector entities.

According to a list released by the Privatisation Commission, capital markets transaction of eight entities will be completed by March 2015. The transaction of Oil and Gas Development Company will be closed in October this year followed by disinvestment of seven million government shares in Pakistan Petroleum Limited (PPL) with preference for PPL employees.

Govt devises privatisation plan for next fiscal year

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Capital market transactions of Allied Bank, Habib Bank, State Life Insurance Corporation, Pak-Arab Refinery, Mari Petroleum and Government Holding will be initiated from September and closed by March 2015.

The process of privatisation of Heavy Electric Complex has been started to be completed by September this year, while the privatisation of National Power Construction Corporation (NPCC) will be completed by December this year.

The privatisation of Northern Power Generation Company will be completed by April 2015.

The privatisation of nine power distribution companies will be completed between May and June next year. These companies are operating in Faisalabad, Lahore, Islamabad, Gujranwala, Hyderabad, Multan, Sukkur, Quetta and Peshawar.

As part of the strategic and asset sale, the government will sell out Roosevelt hotel in New York, PIA, Convention Centre, Pakistan Steel Mills, Jamshoro Power Company, Central Power Generation Company and Lakhra Power Generation Company by June 2015.

Published in Dawn, July 16th, 2014