Daily Times

ISLAMABAD: Federal Minister for Finance and Revenue, Shaukat Tarin Wednesday directed the Privatization Commission and Ministry of Petroleum to come up with a comprehensive proposal for divestment of government shares in Mari Petroleum Company Limited.

The minister while chairing the meeting of Cabinet Committee on Privatization (CCOP), said that the divestment issue should be further examined in light of discussions held and a comprehensive proposal be presented in the upcoming of CCOP meeting

The committee also discussed the proposal for privatization of Services International Hotel and after thorough debate approved the revised reserve price subject to further approval by the Federal Cabinet.

The Cabinet Committee on Privatization (CCOP) also examined the proposal for removal of Pakistan Engineering Company (PECO) from the active privatization list.

The CCOP directed the constitution of a committee consisting of representatives of Privatization Commission, Law Division, Establishment Division, Industries and Production Division, Finance Division and SECP to thoroughly analyze the case and come up with its proposals on issues highlighted in the meeting.

The meeting was attended by Federal Minister for Privatization Muhammad Mian Soomro; Federal Minister for Industries and Production, Makhdum Khusro Bakhtyar; Adviser to the Prime Minister on Institutional Reforms and Austerity, Dr. Ishrat Hussain; Special Assistant to the Prime Minister on Petroleum, Tabish Gauhar; Secretary Privatization Commission, Secretary Petroleum Division, Secretary Industries and Production and other relevant officials.