With the completion of two transactions during the last month of outgoing fiscal year, the PML-N government has decided to embark on a massive privatisation drive during the fiscal year 2014-15.
During this month, the government disinvested its shares in United Bank Limited (UBL) and Pakistan Petroleum Limited (PPL), generating Rs53.3 billion in aggregate.
“We have devised [privatisation] plan for the next 12 months. It’ll be revealed to the next board meeting of the Privatisation Commission (PC) to be held soon,” PC Chairman Muhammad Zubair told a news conference here on Saturday.
“Pakistan desperately needs cash today for investments. This money will be used for debt retirement and poverty alleviation,” he said.
