Daily Times

Finance Minister Shaukat Tarin has directed the Privatisation Commission and Ministry of Petroleum to come up with a comprehensive proposal for divestment of government shares in Mari Petroleum Company Limited (MPCL).

The minister said this while chairing a meeting of Cabinet Committee on Privatisation (CCoP) on Wednesday.

Tarin said that the divestment issue should be further examined in light of discussions held on Wednesday and a comprehensive proposal be presented in the upcoming meeting of CCoP.

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

The CCoP also examined the proposal for removal of Pakistan Engineering Company (PECO) from active privatisation list. The CCoP directed the constitution of a committee consisting of representatives of Privatisation Commission, Law Division, Establishment Division, Industries and Production Division, Finance Division and Securities and Exchange Commission of Pakistan (SECP) to thoroughly analyse the case and come up with its proposals on issues highlighted in the meeting.

The meeting was attended by Minister for Privatisation Muhammad Mian Soomro, Minister for Industries and Production Makhdum Khusro Bakhtyar, Adviser to the PM on Institutional Reforms Dr Ishrat Hussain, Special Assistant to the PM on Petroleum Tabish Gauhar, federal secretaries and other relevant officials.