ISLAMABAD, Nov 13 The government has put off privatisation of the Qadirpur gas field.

Prime Minister Syed Yousuf Raza Gilani informed the Senate on Thursday that the gas field would not be sold for the time being.

Responding to criticism of the proposed sale of 37 per cent shares of the gas field along with transfer of its operational control, Mr Gilani said that parliament would be consulted before such a decision was taken.

Earlier, Privatisation Minister Syed Naveed Qamar assured the National Assembly that the government would finalise the sale plan only after developing a consensus.

“The PPP will take only those steps which are in the interest of people and privatisation of Qadirpur (gas field) will be finalised when there will be across-the-board consensus in the house,” the minister said, while responding to the criticism by Mian Abdul Haq on the privatisation policy.

Talking to Dawn, Mr Qamar said “Qadirpur has not been sold out at the moment. The whole process requires consensus.”

Replying to Raja Mohammad Safdar Khan's written question, the minister said that the government had planned to privatise 17 national entities.

According to the plan, Hazara Phosphate Fertilizer Ltd; SME Bank; Faisalabad Electric Supply Company, Printing Corporation of Pakistan; Pakistan Machine Tools Factory; Larkana Coal Mining Project; Khewra Salt Mines; Morafco Industries; Sindh Engineering Company and Services International Hotel will be privatised in 2008-09.

The strategic entities on the plan include Heavy Electrical Complex, National Power Construction Company, Jamshoro Power Company, Pakistan Tourism Development Corporation and Kot Addu Power Company.

Mr Qamar informed the lower house about a proposal for initial public offering (IPO) through stock exchanges as part of privatisation of Pakistan Steel Mills.

The disclosure contradicted an announcement recently made by Minister for Industries Manzoor Ahmad Wattoo that the plan to privatise the Steel Mills had been put off.

Mr Qamar, however, said that the government was not selling the Steel Mills, but proposing to offer IPO, and conceded that in the current environment, nobody would be willing to buy it.

He said that the sale of some shares of the Steel Mills through capital market to general public by IPO would be considered in accordance with the decision of the Supreme Court at an appropriate time.