PTCL privatisation: NA committee on IT & Telecommunication: Presentation requires in-camera session: Minister for Finance Abdul Hafeez Shaikh
Federal Minister for Finance and Revenue Abdul Hafeez Shaikh on Tuesday informed the NA committee on Information Technology and Telecommunication that privatisation of PTCL required in-camera session because there were a number of matters that would have hurt the brotherly relationships of Pakistan and UAE.
However, he lightly briefed the committee about the process of privatisation process with special reference to PTCL. The minister – who was previously the privatization minister – told the members that several inquiries were carried out over this privatization transaction and the usual routine of privatization was changed.
He said Khawaja Asif, Fozia Wahab and others were included in the privatisation committee of PTCL and other public entities at that time. After reaching consensus, privatisation of the PTCL was decided – that was before the entity started incurring losses. Two international renowned companies were hired to make privatisation process in a transparent manner. In the meantime Privatisation Commission was established, which was governed by prominent private members. From government side Privatisation Board was established, headed by minister of privatisation and its decision would have to be approved by the Cabinet headed by Prime Minister itself.-PR
(Published in Daily English : Business Recorder Dated December 4, 2010)