ISLAMABAD, Jan 15: Federal Minister for Privatisation Syed Naveed Qamar has directed that the entire privatisation policy be revamped to make it successful and in the best interest of the people and the country.

Presiding over a meeting of the board of Privatisation Commission here on Thursday, he said that the government’s focus should not be on raising proceeds for the budget deficit, but for improving deficiencies, bringing in fresh investment by associating the private sector and increasing revenues and value of the government’s shareholdings in the entities through Public Private Partnership (PPP) in accordance with the PC law.

All future transactions would be taken on Public Private Partnership basis to achieve these objectives, he added.

The minister directed the PC to revisit the privatisation list to reprioritise them for processing in accordance with the new policy, which was being developed before presenting it to the Cabinet Committee on Privatisation (CCOP) for approval.

After approval of the policy and programme by the CCOP, transactions would be carried out.