Deputy Prime Minister/Foreign Minister Chaired the Meeting of the Cabinet Committee on Privatisation (CCOP)
Islamabad: 14th November 2024 – Meeting of the Cabinet Committee on Privatisation (CCOP) was held on 14th November 2024 with the Deputy Prime Minister/ Foreign Minister in chair.
The meeting was also attended by other members of the Committee including the Ministers of Privitization, Industry and Food, Commerce, Power ,MOS for Finance & Revenue , and Federal Secretaries of various Divisions.
The CCOP considered the proposal of PC Board whereby it recommended rejection of the bid of PKR 10 billion submitted by Blue World for divestment of PIACL (60% shares). The CCOP decided to accept the recommendation of PC Board and rejected the bid.
The CCOP reiterated the resolve of the government to divest PIACL through privatisation or G2G mode.
The CCOP noted with satisfaction the assessment of the aviation division on healthy PIACL’s finances.
The CCOP also constituted a committee under the covenorship of Minister of State for Finance to evaluate possible transaction options for privatisation of Roosevelt hotel and modes to be adopted in the light of available legal provisions.
The CCOP also directed resolution of all issues and conclusion of agreement for sale of Services International Hotel before its next meeting.
