Government plans key changes in privatization ministry
ISLAMABAD: The government is considering making key changes to the privatization ministry as different options are being explored to replace the outgoing privatization minister Mohammad Mian Soomro and appoint a new chairman of the Privatization Commission.
Various names are under consideration for the post of Chairman of the Privatization Commission and renowned banker Sultan Ali Allana is among the main contenders for the post.
“Yes, the government has decided in principle to make key changes to the Ministry of Privatization in order to give impetus to the proceeds of privatization which has remained unable to achieve the desired momentum over the past three years,” said confirmed from official sources to The News here on Sunday.
Discussions are underway to make key changes to the privatization ministry, and Sultan Ali Allana has visited Islamabad in recent weeks and met the top regime leaders in power. Whether this development will materialize or remain unfinished would be confirmed in the coming days.
When contacted, a senior government official said consultations were underway to this effect, but was unsure whether the incumbent privatization minister would continue in his current post or be replaced.
But one thing is confirmed that the new chairman of the Privatization Commission would be appointed with the mandate to speed up the privatization process during the remaining tenure of the PTI-led regime.
Another senior official said the privatization process had been slowed down due to the Covid-19 pandemic and fear of the NAB as no local investor was ready to invest in government-owned properties and assets.
With the change of finance minister and the appointment of Shaukat Tarin, it is hoped that he will focus on public enterprises (SOEs), whether these loss-making entities are reshuffled or privatized in order to get rid of the enormous burden of losses on the public treasury. .
Sultan Ali Allana has been Chairman of the Board of Habib Bank Limited (HBL) since February 2004. He has over 35 years of experience in the financial and banking sectors.