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IFC to help revive privatisation

August 30, 2012

ISLAMABAD, Aug 29: The International Finance Corporation will extend technical and financial assistance to the Privatisation Commission to revive the stalled privatisation process.

In this regard, IFC and the Commission signed a memorandum of understanding here on Wednesday. Chairman Privatisation Commission Ghaus Bux Maher and IFC Country Representative Nadeem Siddiqui signed the memorandum.

IFC will help the PC in developing a programme for greater private sector participation in key state-owned industries through partial or complete privatisation of suitable State-Owned Enterprises (SOEs) and implementing new public-private partnership projects. The memorandum of understanding is in line with IFC’s objectives of assisting the government in preparing well structured investment opportunities which should attract local and international private investors as well as enhance efficiency, while also safeguarding the government's interests. According to IFC sources, a number of priority sectors have been identified, and the institutions are expected to start working on pilot projects soon.

IFC has also recently signed a MoU with the Punjab government on working together in developing a pipeline of public private partnership transactions in key sectors including energy, transport, health and education.

IFC is currently advising the governments of Punjab and Sindh in implementing pioneering public private partnership transactions in the agri-sector.