Federal Minister for Privatisation Muhammad Mian Soomro has said that the coronavirus pandemic and procedural constraints of regulations have slowed down the process of privatisation.
He was talking to TheCorrespondent after a meeting of the Senate Standing Committee on Privatisation in Islamabad on Thursday.
He said due to coronavirus and review of the power policy, foreign investors could not come to Pakistan. They have been watching the markets’ situation, he added.
Muhammad Mian said that the investors have been reviewing the market due to large investments in power plants.
The minister expressed the hope that transaction of LNG power plants would be larger than the PSDP size.
He said the LNG power plants transaction is the first of its kind. The privatisation of power plants would be completed this financial year, the minister continued.
The process of privatisation of institutions will start from this quarter of the current fiscal year. In the first phase, the SME Bank, Services International Hotel and Convention Center would be privatized, he maintained.
The minister said “we will try to achieve the privatisation targets allocated in the budget.”
