Prime Minister Imran Khan Friday directed the Ministry of Privatisation to conclude the privatisation of already identified institutions within the set timeframe, assuring for the provision of all-out resources to get the process accomplished.
Addressing a meeting held to review progress on the privatisation process, the prime minister directed all the ministries associated with the privatization process to extend their maximum cooperation and contribution. He also called for keeping the Prime Minister’s Office updated on the progress in the privatisation and removing all the bottlenecks immediately.
Secretary Privatisation Rizwan Malik presented to the prime minister a report on the progress of the privatisation of public entities. Briefing the prime minister, he said the privatisation process includes the organisations which had either been inflicting constant loss to the national kitty or performing below the capacity. Moreover, the public properties which had been lying unused or making no profit for years have also been included in the list, he added.
The prime minister was apprised that the preparation for the privatisation of Haveli Bahadur Shah Power Plant, Balloki Power Plant, SME Bank, Services International Hotel Lahore and Jinnah Convention Center was in final stage. The international parties have also shown their interest in the privatisation of the said entities, he added. Moreover, he said the privatisation process of Guddu Power Plant, Nandipur Power Plant, First Women Bank, Pak Petroleum Limited and State Life Corporation has also been initiated. He also apprised the meeting about the sale of the valuable properties held by different ministries and government departments.
In his remarks, the prime minister said the objective of the privatisation is to save the national kitty from future losses besides handing over the low-performing institutions to the capable hands to exploit their true potential. He ruled out the impression that through the privatisation process, the government is trying to get rid of the loss-making organisations. He said the privatisation process will help improve performance of the organisations which had not been doing well.
Separately, Prime Minister Imran Khan said the government’s year 2030 target of 30 percent renewable energy to be added to the total power generation will ensure affordable, sustainable and clean electricity for Pakistan, which is currently facing high risks of climate change.
Addressing the signing ceremony of 310 Mega Watt Super-6 wind power project here at the PM Office, the prime minister said short-term planning of previous governments to set up power stations running on expensive imported fuel is the main reason behind the electricity crisis. He expressed satisfaction over the signing of wind power plants in line with the government’s vision of clean energy, which he said is relevant for Pakistan due to its greater vulnerability to climate change and melting glaciers.
He thanked the World Bank and IFC for resuming the almost elapsed project due to negligence by the previous government and said the financed wind projects will ensure cheap electricity for consumers for their non-reliance on imported fuel.
The prime minister said the government faced tough economic challenges by inheriting $120 billion fiscal deficit, however it overcame these difficulties with resilience and prudent policies. He spoke high of his economic team whose tireless efforts resulted in gaining strength of rupee, showed positive market trends, increased exports and restoration of investors’ confidence. He also lauded relevant departments on recovery of Rs120 billion by hitting at those involved in theft of electricity. He said the bottom line of his government’s economic policy is ensuring trickling down of benefits of any project to the common man. He stressed upon the importance of wealth creation with proper taxation to transfer the monetary impact to the grassroots level.
