The government has sped up the process of the privatization of loss-making entities, reported 24NewsHD TV channel on Thursday.
According to the details submitted by Federal Minister for Communications Abdul Aleem Khan in the National Assembly (NA), 24 entities will be privatized in three phases.
In the first phase, PIA, the Roosevelt Hotel in New York, First Women’s Bank Limited, House Building Finance Corporation, Agricultural Development Bank Limited, Pakistan Engineering Company, Sindh Engineering Limited and Islamabad Electric Supply Company Limited will be sold.
Similarly, Faisalabad Electric Supply Company Limited and Gujranwala Electric Power Company Limited will also be sold in the first phase.
Pakistan Reinsurance Company Limited, State Life Insurance Corporation, Utility Stores Corporation, Jamshoro Power Company Limited, Central Power Generation Company Limited, Northern Power Generation Company Limited, Lakhra Power Generation Company Limited, Lahore Electric Supply Company Limited, Multan Electric Power Company Limited and Hazara Electric Supply Company will be privatized in the second phase.
Likewise, Hyderabad Electric Supply Company Limited, Peshawar Electric Supply Company Limited, Sukkur Electric Power Company Limited will also be sold in the second phase, while Postal Life Insurance Company Limited will be sold in the third phase.
Reporter: Rozeena Ali