Sale of government assets gathers pace to meet IMF condition

ISLAMABAD: The Privatization Commission has decided to speed up the process of the sale of various government assets in order to meet one of the conditions of the International Monetary Fund (IMF).

Sources disclosed on Saturday that in this connection a dispute had arisen over the refinancing of loans for Haveli Bahadur Shah and Head Baloki power plants for which negotiations were underway with the stakeholders.

Sources further said that a summary would be forwarded to the Privatization Board in a few days from now for the hiring of financial advisers for the sale of some of the government properties.

Furthermore, it has been learnt that the government has decided to complete the privatization of the Heavy Electrical Complex as early as possible, and in order to determine the sale price, the Privatization Board as well as the federal cabinet were being consulted.

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