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CCoP Approves Privatization of Services International Hotel

The Cabinet Committee on Privatization (CCoP) in Islamabad has authorized the privatization of the Services International Hotel in Lahore.

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The CCoP approved the summary presented by the Privatization Commission Board, proposing the best bid of about Rs 1.96 billion for the privatization of the Services International Hotel in Lahore, which was received following an auction.

In addition, the Board of the Secretary Privatization Commission informed the participants of the steps being taken to privatize or restructure entities along with their respective timetables.

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The finance minister instructed in his speech to expedite the entire procedure with appropriate attention in order to provide efficiency to the public sector.

He added that the government is dedicated to a reform plan centered on enhancing the functions of State-owned Enterprises in order to make them lucrative and sustainable.

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