Home / Latest / Govt to privatise 48 organisations together with PIA and Metal Mills | Pakistan

Govt to privatise 48 organisations together with PIA and Metal Mills | Pakistan

Losses from the PIA and Metal Mills have reached 600 billion rupees/ file picture

ISLAMABAD: The federal authorities has determined to privatise 48 organisations, together with Pakistan Worldwide Airways and Metal Mills.

A session of Nationwide Meeting’s Standing Committee for Privatisation was held below Syed Mustafa Mahmood.

In the course of the session, Secretary for Privatisation Rizwan Malik gave a briefing to the session.

The Pakistan Tehreek-e-Insaf authorities’s privatisation programme was introduced by which the organisations have been to be privatized inside 5 years.

The secretary instructed the assembly that inside 1.5 years round seven establishments will likely be bought, which embody two LNG crops, and Haveli Bahadur Shah and Balluki energy crops.

Malik stated that for the privatization of the Metal Mills, talks are occurring with 5 to 6 firms that are from China and Russia.

The metal mills will likely be bought on public-private partnership, to reinforce its manufacturing capability from 1.1 to three.5 million tonnes per yr.

He stated that the losses from the PIA and Metal Mills have reached 600 billion rupees and in present scenario nobody will possible purchase the nationwide airways as its losses have reached Rs400 billion.



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