ISLAMABAD, April 7: The Privatization Commission Board should ensure extending benefits of privatization to maximum possible people particularly the workers and employees of the entities being privatized. Privatization and Investment Minister Dr Abdul Hafeez Shaikh issued these instructions while addressing the Privatization Commission Board meeting held here on Thursday. Pakistan’s privatization process, said the minister, was pro-employees and pro-workers. The policy of “privatization for the people” was aimed at transferring benefits of the scheme to maximum of common people of the country, enabling them to share ownership of national assets, he said.

The board approved the recommendations for initial public offering (IPO) of United Bank Ltd for approval of the Cabinet Committee on Privatization (CCoP).

The PC Board also formulated certain recommendations for approval of the CCoP to further facilitate early privatization of PTCL, NRL and other entities in an orderly and transparent manner.

The meeting viewed the implementation of various decisions and the status of the ongoing and upcoming transactions while expressing satisfaction over the pace of the process.