The board meeting, with Privatisation Minister Syed Naveed Qamar in the chair, also reviewed the implementation status and progress of the ongoing transactions.
The board was informed that preliminary process for a number of transactions would be finalised in few months. About the privatisation of the SME Bank it was decided to hold a meeting of the financial adviser and the privatisation committee of the bank to reassess the transaction structure.
The meeting was informed that the SME Bank disinvestment had been delayed due to various factors including objections from the officers association over the offers made in Voluntary Separations Scheme (VSS) before the sale of the bank.
The meeting was informed that the Terms of Reference (ToR) for the appointment of financial adviser for Pakistan Post privatisation had been finalised. The PC plans to expand the services of the post offices in remote areas as a small bank providing financial services to the villagers.
The board also decided to initiate the process for the appointment of new financial adviser for Jamshoro Power Company Limited for which the PC had already received seven expressions of interest (EoIs).
The government has amended its privatisation policy to take on board the workers of state-owned entities for their empowerment by giving them shares in their respective units when the units are privatised.
However an official of the Privatisation Commission said the meeting was informed that the government was not satisfied with the pace of privatisation, which is almost stagnant or moving very slowly.
The PC Board however observed that the deteriorating law and order situation had slowed down the privatisation process during the last one and half years.
Secretary Privatisation Ahmed Jawad, PC Board members and senior officials and consultants also attended the meeting.
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