The Privatization Commission’s Board on Thursday met and took decisions to expedite the privatization of the House Building Finance Corporation, Pakistan International Airlines, and three international airports, those at Islamabad, Lahore and Karachi. While HBFC and PIA are at an advanced stage of sell-off, the airports are next. All the decisions of the Board are to be ratified by the Cabinet Committee on Privatization, and then by the full Cabinet itself, but they are expected to go through as recommended.
HBFC is the closest to being privatized, through a negotiated sale to a single pre-qualified bidder approved in July 2023, to the Pakistan Mortgage Refinance Corporation Limited. It would be more in the nature of a merger, for the PMRCL is itself over 43 percent owned by government entities (the Finance Ministry and National Bank), and 0.16 percent of its shares are owned by HBFC itself. The Board set a reference price, which will be compared to the reference price submitted by the PMRCL. It may be remembered that when the government tried to sell PIA last year, it received only one bid, of $36 million, which was far below the reference price of $305 milllion, so the sale fell through. This time around, there is a great effort at making the sale, which may explain why the Board allowed the addition of AKD Group Holdings to join the consortium headed by Arif Habib Corporation. With the auction date not set, but to take place before the end of the year, bringing in the AKD Group would be cutting a little fine. The decision to sell off the airports management ahead of p;ower distribution companies is a little puzzling, for the government had announced that it would sell off a number of distribution companies this year.
The government’s seriousness in selling off the family silver is less out of ideological commitment than because of a commitment with the IMF. It is true that the government has no business in the business of business, but the government needs to ensure that it is not carrying out privatizations just because the IMF told it to do so. For example, now that PIA has turned a profit, the rationale for privatizing it, to get away from the losses it makes, is a little lost. It should not be forgotten that once an asset is sold, it has gone forever, and there no chances of benefiting from it.
Wow, this article is mind-blowing! The author has done a phenomenal job of conveying the information in an compelling and educational manner. I can’t thank her enough for offering such valuable insights that have definitely enlightened my understanding in this topic. Bravo to her for creating such a masterpiece!
Appreciating the commitment you put into your website and in depth information you present. It’s good to come across a blog every once in a while that isn’t the same out of date rehashed material. Excellent read! I’ve bookmarked your site and I’m adding your RSS feeds to my Google account.
There are definitely quite a lot of details like that to take into consideration. That is a nice point to deliver up. I supply the thoughts above as general inspiration however clearly there are questions just like the one you bring up the place crucial thing will be working in sincere good faith. I don?t know if greatest practices have emerged round issues like that, but I’m sure that your job is clearly recognized as a fair game. Both boys and girls really feel the impression of only a second?s pleasure, for the rest of their lives.
It?s really a cool and useful piece of information. I am happy that you just shared this useful information with us. Please stay us up to date like this. Thank you for sharing.
Amazing blog! Do you have any tips for aspiring writers? I’m hoping to start my own website soon but I’m a little lost on everything. Would you suggest starting with a free platform like WordPress or go for a paid option? There are so many options out there that I’m completely confused .. Any recommendations? Thanks a lot!
Wonderful blog! I found it while searching on Yahoo News. Do you have any tips on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Thanks
Superb site you have here but I was wanting to know if you knew of any discussion boards that cover the same topics talked about in this article? I’d really like to be a part of online community where I can get opinions from other experienced individuals that share the same interest. If you have any recommendations, please let me know. Thanks a lot!
whoah this blog is wonderful i love reading your posts. Keep up the good work! You know, a lot of people are looking around for this info, you could help them greatly.
I will also like to say that most individuals that find themselves without the need of health insurance are generally students, self-employed and people who are out of work. More than half of those uninsured are under the age of Thirty-five. They do not feel they are looking for health insurance since they are young plus healthy. Their income is often spent on housing, food, plus entertainment. A lot of people that do work either 100 or in their free time are not supplied insurance by way of their work so they go without as a result of rising cost of health insurance in the country. Thanks for the tips you write about through this website.