ISLAMABAD: The Senate Standing Committee on Privatisation on Tuesday raised concerns over the government’s plans to privatise two state-owned entities — the Pakistan Mineral Development Corporation (PMDC) and Zarai Taraqiati Bank Ltd (ZTBL) — and questioned the rationale behind their inclusion in the programme.

Chairman of the Privatisation Commission, Muhammad Ali, clarified that PMDC is not currently on the active privatisation list. However, Senator Bilal Ahmed Khan questioned why land was being allotted to the entity if there were no plans for privatisation. He also asked for details regarding the geographical area under PMDC’s operations and the volume of mineral output. Senators noted that the Ministry of Petroleum lacked the mandate to initiate the privatisation of PMDC.

Responding to the concerns, Mr Ali said that the Cabinet Committee on State-Owned Enterprises evaluates such organisations, and that the Ministry of Petroleum would be better positioned to clarify its mandate on the matter. The committee decided to invite PMDC officials to the next meeting for further deliberations.

Regarding ZTBL, the committee was informed that the bank is part of the first phase of the government’s privatisation list approved in 2024, which includes a total of 24 state-owned entities. ZTBL is currently in the process of hiring a financial advisor, while discussions are ongoing to determine the mode of privatisation.

Committee Chairman Senator Afnanullah Khan expressed concern over delays in hiring the financial advisor, pointing out that bids had been submitted and evaluated in January.

Published in Dawn, July 23rd, 2025