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Target Settled for All State-Owned Organizations Including PSM

Islamabad: The Privatisation Commission’s decision to privatize almost a dozen state-owned businesses (SOEs) includes Pakistan Steel Mills (PMS). Until the end of the following year, hypothetically.

Read: FBR Increases Monitoring of DNFBPS to Meet FATF Targets

In addition to Pakistan Steel Mills, sources indicate that SME Bank, Jinnah Convention Centre, First Women Bank Limited, and House Building Finance Corporation Limited are far along in the privatization process (PSM). The commission predicts 252 billion Pakistani rupees in revenue.

Read: FBR Announces Incentive Scheme for Timely Tax Probes

In the fourth quarter of this year, the government intends to privatize the Jinnah Convention Centre and the steel factory (FY 2021-22). The nationalization of House Building Finance Corporation (HBFC) and First Women Bank Limited (FWBL) is anticipated to be complete by December 2022.

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