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The government has decided to privatize Lakhra Coal Power Project, Finance Minister Ishaq Dar informed the Privatization Commission Saturday.
During a meeting with Privatization Commission, the finance minister said the government is committed to undertake the disinvestment of public sector entities in a transparent manner and assured to fully protect interests of their employees.
The Minister said privatization would be undertaken following due process and observing all legal formalities to ensure transparency.
Chairman Privatization Commission Muhammad Zubair gave briefing on the status of various government departments and steps taken so far by the Commission to disinvest them.
The Finance Minister directed the Privatization Commission to prepare a summary for disinvestment of Lakhra Project for approval by the Council of Common interest‚ which is due to meet on February 10.
The government has decided to borrow Rs23 billion from domestic banks to finance the construction of the 425-megawatt Nandipur power project – a step taken after a consortium of foreign banks led by the Chinese backed out of its financing commitment.
According to a senior government official, the government will take Rs23 billion in loans from banks..... Read more
The federal government, which completed its tenure on March 16, spent roughly Rs950 billion more than its income in just eight months of the current fiscal year, highlighting economic mismanagement that remained the hallmark of the regime. On average, it borrowed Rs4 billion a day to bridge the gap.
The budget deficit in the first eight months (July-Febru..... Read more
The PIA Chairman Asif Yasin Malik said that new management has taken over airline at a critical point whose agenda is to turnaround airline.
While addressing to PIA officers and staff on Thursday at the PIA Training Centre Auditorium in connection with the management’s commitment to change face of airline by April 2013, he categorical..... Read more
