Pakistan Privatization Commission

Last updated
Pakistan Privatisation Commission
TypeGovernment body
Legal statusActive
PurposePrivatisation of federal government assets
Headquarters Islamabad, Pakistan
Region served
Pakistan
Chairman
Mohammad Saleem (2023)
Parent organization
Ministry of Privatization

The Pakistan Privatization Commission is a government agency in Pakistan under the Ministry of Privatization that is responsible for implementing the government's privatization program. The commission is tasked with the open and transparent privatization of federal government assets such as its stake in banks, industrial units, public utilities, oil, gas, transport companies and infrastructure service providers. [1]

The Privatization Commission is headed by a Board that includes the Minister for Privatization. [2] Muhammad Salim is currently the Chairman of the Privatization Commission. [3]

Activities

The Privatization Commission has been actively involved in several major transactions:

Pakistan International Airlines (PIA): PIA's finances are likely to be handed over to the Privatization Commission in an effort to bring transparency. [4] [5] The Cabinet Committee on Privatization (CCoP) decided to include PIA in the list of active privatization projects. [6]

Services International Hotel (SIH): The CCoP allowed the Privatization Commission to move towards a successful conclusion of the SIH transaction with the completion of the transfer/mutation process in the name of the buyer. [7] [8]

K-Electric: Privatization Commission officials have reported that K-Electric has become a profitable company that was privatized for Rs 15 billion. [9]

FBR Land: The Privatization Commission handed over the mutation deed of FBR land in Faisalabad to the successful buyer. [10]

Related Research Articles

<span class="mw-page-title-main">Economy of Pakistan</span> National economy of Pakistan

The economy of Pakistan is classified as a developing economy. It is the 24th-largest in terms of GDP based on purchasing power parity (PPP) and 46th largest in terms of nominal GDP. As of 2023, the country has a population of 232 million people. According to the International Monetary Fund (IMF), on a per capita income basis, Pakistan ranked 161st by GDP (nominal) and 138th by GDP (PPP).

Pakistan International Airlines is an international airline that serves as the flag carrier of Pakistan under the administrative control of the Secretary to the Government of Pakistan for Aviation. Its central hub is Karachi's Jinnah International Airport, while Allama Iqbal International Airport in Lahore and Islamabad International Airport serve as secondary hubs.

<span class="mw-page-title-main">Nur Khan</span> Pakistani military aerial leader (1923–2011)

Malik Nur Khan Awan was a Pakistani military aerial leader, politician and statesman who served as sixth commander-in-chief of the Pakistan Air Force from 1965 to 1969. He later served as the sixth governor of West Pakistan from 1969 to 1970.

<span class="mw-page-title-main">Multan International Airport</span> Airport near Multan, South Punjab, Pakistan

Multan International Airport is an international airport located 4 km west of Multan, Pakistan. The airport is South Punjab's largest and busiest airport. Multan International Airport offers flights throughout Pakistan, as well as direct flights to Bahrain, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

<span class="mw-page-title-main">Institute of Chartered Accountants of Pakistan</span> Pakistani professional accountancy organization

The Institute of Chartered Accountants of Pakistan is a professional accountancy body in Pakistan. It has over 10,000 members working locally and globally. The institute was established on July 1, 1961 to regulate the profession of accountancy in Pakistan. It is a statutory autonomous body established under the Chartered Accountants Ordinance, 1961. With the significant growth in the profession, the CA Ordinance and By-Laws were revised in 1983.

<span class="mw-page-title-main">National Accountability Bureau</span> Pakistans anti-corruption agency

The National Accountability Bureau is Pakistan's anti-corruption agency. Its Chairman is Nazir Ahmed Butt, a retired general.

Kotli Loharan is a small town in Sialkot District, Pakistan. K. L industry by Muhammad Younas used to manufacture mine-laying machines, hydraulic jacks and instruments for F-86 aircraft engine maintenance for the Pakistan Army. A rural hospital funds were raised, a veterinary hospital, boys and girls colleges, schools and roads have been constructed. Bazaars have been widened in 2010, Fresh water filtration plants have been installed in various locations. New Building of veterinary Hospital constructed, Streets are cemented, Rural Hospital new building constructed and upgraded, Ring roads are made.

<span class="mw-page-title-main">Federation of Pakistan Chambers of Commerce & Industry</span>

Since its inception in 1950, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has advocated and voiced the collective opinion, concern and aspiration of the private sector and offered helpful advice and solid assistance to the Government in its efforts to promote exports, encourage foreign investment and stimulate economic activity in the country. The FPCCI has its fingers on the pulse of the economy and serves as a bridge between the private sector and the Government.

Pakistan's current Taxation system is defined by Income Tax Ordinance 2001 and Sales Tax Act 1990 and administered by Federal Board of Revenue (FBR).

<span class="mw-page-title-main">Jinnah Convention Centre</span>

Jinnah Convention Centre is an exhibition and convention centre based in Islamabad, Pakistan. It is named after Muhammad Ali Jinnah.

<span class="mw-page-title-main">Privatisation in Pakistan</span> Economic programme

The Privatisation process in Pakistan is a continuous policy measure program in the economic period of Pakistan. It was first conceived and implemented by the then-people-elected Prime Minister Nawaz Sharif and the Pakistan Muslim League, in an attempt to enable the nationalised industries towards market economy, immediately after the economic collapse of the Soviet Union in 1989–90. The programme was envisaged and visioned to improve the GDP growth of the national economy of Pakistan, and reversal of the nationalisation programme in 1970s— an inverse of the privatisation programme.

Pakistan's e-trading mainly involves buying and selling goods, and services using internet or telephone, through the use of electronic means such as computer, fax machine, cellular phone, automated teller machines (ATMs), and other electronic appliances with or without using the internet. Online banking, e-tickets, share trading in stock exchange are few examples of e-commerce of modern advancement. With its potential, e-trading can reduce the cost per transaction, increase efficiency, support contest, lower prices and boost international demand. It can open new areas for business in the service sector like online education, medical services, consultancy, and data exchange. It can also provide expansion in trade through domestic and international market research, advertising and marketing. In the financial services area, it can make easy and speedy transactions and transfer of money at a minimum risk. The interesting feature of online trading is that an investor simply sitting in his office or home can buy or sell through the Internet via mobile/tablet or PC and before being an experienced trader he may learn a lot by watching market screens or web portals at his convenience.

<span class="mw-page-title-main">Islamabad–Rawalpindi metropolitan area</span> Metropolitan area in Pakistan

The Islamabad–Rawalpindi metropolitan area is the fourth-largest metropolitan area of Pakistan, after Karachi, Lahore, and Faisalabad. It consists of the twin cities of Islamabad and Rawalpindi.

Trade unions in Pakistan are regulated under provincial industrial relations acts. Under the Constitution of Pakistan, labour is considered a shared responsibility of the federal and provincial governments. The latest Industrial Relation Act was promulgated on 12 March 2012 by President of Pakistan. National Industrial Relations Commission (NIRC) was established under Labour Policy, 1972 as a quasi-judicial authority to promote genuine trade unionism, setting up industry-wise federations of unions and at the national levels. According to NIRC, in 2016 there were 1,390 trade unions with registered 1.4 million members. There are 16 registered federations and the ratio of total union members to total employment is 2.2%.

<span class="mw-page-title-main">MG Motors Pakistan</span> Pakistani automobile manufacturer

MG JW Automobile Pakistan Pvt Ltd operating as MG Motors Pakistan is a Pakistani automobile manufacturer and joint venture between JW-SEZ Group and SAIC motors.

The Pakistan Single Window (PSW) stands as a prominent undertaking spearheaded by Pakistan Customs. Its overarching objective is to diminish the time and expenses associated with conducting business by transitioning Pakistan's cross-border trade into a digital realm, thereby eliminating the need for paper-based manual procedures.

The Pakistan Information Commission (PIC) operates as an independent and self-governing entity, established in accordance with Section 18 of the Right of Access to Information Act 2017. Its primary function is to create systems and processes that enable the citizens of Pakistan to exercise their constitutional entitlement to access information concerning matters of public significance.

Pakistan Naval Station Siddique, known as PNS Siddique formerly known as Naval Air Station, Turbat, is a Naval air station and a military airport located in Turbat city of Makran of Balochistan. It is one of the four active Naval Air Arm's bases and is currently headquarters to the Pakistan Navy's Alouette III and Lynx helicopters.

References

  1. https://privatisation.gov.pk/Overview
  2. https://privatisation.gov.pk/index
  3. "New PC board chairman hangs in limbo". The Express Tribune. January 13, 2022.
  4. Desk, Web (October 7, 2023). "PIA financial affairs likely to be handed over to Privatisation Commission". ARY NEWS.
  5. desk, News (October 8, 2023). "Privatization Commission to take over financial affairs of PIA".{{cite web}}: |first= has generic name (help)
  6. https://www.radio.gov.pk/07-08-2023/cabinet-committee-on-privatization-decides-to-include-pia-in-list-of-active-privatisation-projects-of-ongoing-privatisation-program
  7. Desk, NNPS (July 10, 2023). "Privatization Commission allowed to proceed SIH transaction".
  8. Abbasi, Zaheer (July 18, 2023). "SIH transaction: CCoP allows Privatisation Commission to move ahead". Brecorder.
  9. "K-Electric becomes profitable company: Privatization Commission". Dunya News. April 5, 2023.
  10. "Privatization commission hand over mutation deed of the FBR land to successful buyer". September 22, 2023.