Summary The proceeds of these transactions will generate Rs 140 billion for the government
ISLAMABAD (Dunya News) – The government has decided to privatize three more public institutions in the current fiscal year that will raise Rs 140 billion in revenue for the government. At least eight more institutions will be privatized in next fiscal year as well, Dunya News reported on Tuesday.
According to the documents of privatization commission obtained by Dunya News, Habib Bank’s shares will be sold in the current fiscal year along with privatization of National Power Construction Corporation and Heavy Electrical Complex.
The proceeds of these transactions will generate Rs 140 billion for the government.
Among the eight companies the government will privatize in the next fiscal year are Pakistan International Airlines (PIA), Pakistan Steel Mills, Convention Center, LESCO, IESCO, FESCO and National Power Generation Company.
The largest oil providing company in the country Pakistan State Oil (PSO) will also be privatized along with Roosevelt and Scribe Hotels.
Under the current government’s tenure, the shares of PPL, UBL and ABL have been sold so far which generated Rs 68 billion in revenue for the government.
However, the government faced the loss of $730 million because of cancellation of OGDCL transaction.
The document can be seen here.
