Islamabad:
A panel of the Senate was told Monday that four out of five companies that presented rating statements (SOQ) for Pakistan International Airlines (PIA) have been declared eligible.
The privatization secretary informed the Permanent Committee of the Senate that the visits and conferences of the site were underway, after which the bidding phase will begin.
During the committee meeting, chaired by Senator AFNanullah on Monday, the privatization of PIA, the Pakistan Mineral Development Corporation (PMDC), as well as the Energy Generation Companies (Genco) and the distribution companies (DISC) were discussed.
The members of the Committee suggested to eliminate the PMDC from the privatization list, while the Committee also summoned the officials of the Electric Power Regulatory Authority (NEPRA) to discuss the privatization of discos.
In informing the Committee, the Energy Division Secretary said that eight of nine problems in Nandipur and four of nine in Guddu have been resolved.
He added that two Genco plants remain in the privatization list and that both discos and the Genco are experiencing the privatization process.
The privatization secretary commented that institutions that obtain profits today may not necessarily be profitable in the future.
“The role of the government is not to administer power plants or transport companies. After privatization, the government will obtain income, while the private sector will improve performance and recovery,” he said.
PMDC’s financial director reported that the corporation generated an annual income of RS5.40 billion and produces 1.5 million tons of salt annually.
In PIA, the Secretary of Privatization reiterated that five companies had presented SOQ, four of which were declared eligible.
