Body to finalise closure of public sector firms, court told

The Punjab government on Thursday informed the Lahore High Court that a special committee has been formed to finalise the closure of public sector companies established by the previous government.

As the hearing resumed on a petition seeking closure of such companies, an additional advocate general presented a notification before Justice Asim Hafiz regarding the constitution of committee to finalise the closure of public sector companies. The law officer apprised the court that a committee had been constituted by chief minister comprising ministers of local government, minister of finance, Chief secretary and law minister which will decide winding up of public sector companies. He told the court that at least 20 companies would be closed. Advocate Sheraz Zaka appeared on behalf of the petitioner and argued that according to public sector companies’ rules 2013, any legislator cannot exercise the powers of chairman of public sector companies. Zaka pointed out that these public sector companies are interfering in the effective functioning of local government affairs.

Additional advocate general gave undertaking that government has finally decided to close some 20 of the public sector companies and the chief minister after the advice of cabinet has constituted a committee which will finalise the proposal of closure of some of public sector companies.