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CCoP seeks privatisation proposals for Pakistan Steel Mills

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ISLAMABAD: The Cabinet Committee on Privatisation (CCoP) on Monday discussed Pakistan Steel Mills’ (PSM) privatisation and directed the Ministry of Industries and Production and Privatisation Commission to submit their proposals in the next meeting.

The CCoP meeting was chaired by Adviser to Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh, according to a press statement issued by the Ministry of Finance.

Meanwhile, presenting a report of the task force on energy reform, the Ministry of Energy briefed the committee about challenges being faced by the power distribution companies.

The meeting discussed various measures recommended by the task force to improve the performance of the energy sector with a focus on reducing the losses and enhancing the efficiency of DISCOs.

The committee directed the Ministry of Energy to submit proposals aimed at accelerating the closure of those power generation companies that have outlived their recommended life and are running into losses.

Issue of delisting the House Building Finance Corporation Ltd (HBFC) from the privatisation list was also recommended to be presented in the next meeting.

Among others, the meeting was attended by Privatisation Minister Muhammad Mian Soomro, PM’s Adviser on Commerce Abdul Razak Dawood, federal secretaries and senior officials.

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