ISLAMABAD: Government decided to form negotiation committee to assist in privatise several public institutions.

Privatisation Commission Board meeting was held under chairmanship of Minister Aleem Khan, in which important issues, including privatisation of Agricultural Development Bank and other institutions, were discussed. Aleem Khan emphasised importance of adhering to legal regulations to ensure successful privatisation of institutions. Several entities, such as Pakistan Stone Development Company, Pakistan Automobile Corporation and Pakistan Institute of Management, have been identified for privatisation under right-sizing measures.

Sources indicate that government’s priority is to either privatise or dissolve these organisations. Day earlier, government’s first priority is to privatise multiple institutions and second option is to shut them down if privatisation fails. Government has prepared plan to privatise several institutions. Plan is part of government’s right-sizing measures and includes privatisation of multiple entities. According to sources, Prime Minister has tasked Ministry of Privatisation and Industry to oversee privatisation process. Ministry has identified several institutions for privatization, including Pakistan Stone Development Company, Pakistan Automobile Corporation and Pakistan Institute of Management. Other institutions slated for privatisation include Khadi Crafts Development Company, Agro-Food Processing Company, Leather Crafts Development Company, and the Morafik Industries. Government has also planned to privatise Southern Punjab Embroidery Industry and Gujranwala Business Centre.