20000224

CE revives cabinet committee on privatisation

TAHIR DHINDSA

ISLAMABAD: Chief Executive Gen Pervez Musharraf on Wednesday has replaced the Privatisation Board of Pakistan (PBP) and the Committee of Privatisation Board of Pakistan with Cabinet Committee on Privatisation (CCOP). The CCOP will be headed by the Finance Minister, revenue, economic affairs, planning and development and statistics. The other nine members will be minister for commerce, industries and production; minister for communication; minister for petroleum and natural resources; minister for railways; minister for environment, local government, rural development, labour, manpower and overseas Pakistanis; deputy chairman, planning commission; chairman Privatisation Commission, and Chairman, Board of Investment.

The terms of reference (TOR), of CCOP include the formulation of privatisation policy for approval of the government/Cabinet. It will approve the state-owned enterprises (SOEs) to be privatised on the recommendation of the Privatisation Commission. Under the (TOR), it will take policy decisions on inter-ministerial issues relating to the privatisation process. The CCOP will review and monitor the progress of privatisation, instruct the Privatisation Commission to submit reports, information or data relating to the privatisation process or any other relating matter. It will also to take policy decisions on matters pertaining to privatisation, restructuring, deregulation, regulatory bodies and Privatisation fund Account.

The committee has also be empowered to approve the reference price in respect of the SOEs being privatised, to approve successful bidders.

It will consider and approve the recommendations of the Privatisation Commission on any matter and can assign any other task relating to privatisation to the Privatisation Commission.

The secretary general finance and economic affairs; secretary, industries and production division; secretary communication division; secretary water and power division; secretary, petroleum and natural resources division; secretary, railways division; secretary, labour, manpower and overseas Pakistanis division; secretary, law, justice and human right division; secretary, Privatisation Commission, and secretary, Board of Investments, will also be invited by special invitation for all items of the agenda for the CCOP.

The CCOP may invite such other officers to its meetings as may be required from time to time.