ISLAMABAD: The Federal Cabinet on Friday dissolved the Board of the Privatization Commission and subsequently removed its members.
The decision was communicated through a circulation process, paving the way for the federal government to initiate the establishment of a new board to oversee the commission’s affairs.
The members who have been removed from the Board are Zafar Iqbal, Engr Memon Abdul Jabbar, Zafar Iqbal Sobani, Arsallah Khan Hoti, Khurram Schehzad, Ashfaq Yousuf Tola, Yawar Irfan Khan, and Etrat Hussain Rizvi. These individuals served on the board during the tenure of the incumbent government, the previous Pakistan Tehreek-e-Insaf (PTI) government, and the previous government of the Pakistan Muslim League-Nawaz (PMLN). Their appointments to the board were made in 2013, 2014, and 2015.
The appointments of Zafar Iqbal Sobani and Arsallah Khan Hoti were made in 2013, while Zafar Iqbal and Khurram Schehzad joined the Board in 2014. Engr Memon Abdul Jabbar, Ashfaq Yousuf Tola, Yawar Irfan Khan, and Etrat Hussain Rizvi were appointed to the board in 2015.
As per the Privatization Commission Ordinance of 2000, the general management and administration of the Commission’s affairs are vested in the Board. The Board consists of the Chairman, the Secretary, and six other members, or any higher number as determined by the federal government.
The Chairman of the Commission also serves as the Chairman of the Board, while the Secretary of the Commission holds the position of the Secretary of the Board, as specified under the Ordinance.
The removal of these members and the formation of a new board marks a significant development for the Privatization Commission, and the federal government is expected to announce the new Board’s composition soon. The decision comes amidst the government’s efforts to revitalise the commission and accelerate privatisation efforts to boost economic growth and attract foreign investments.
The Privatization Commission plays a vital role in the economic policies of Pakistan, and the changes to its board are closely monitored by stakeholders in the business community and investors alike. The government’s actions are being closely observed as they set the course for the Commission’s future and the nation’s economic trajectory.