PTV delisted from privatisation list

ISLAMABAD: The cabinet committee on state-owned enterprises on Wednesday decided to delist the Pakistan Television Corporation from the list of state-owned enterprises categorised for privatisation.

The decision was taken on the request of the ministry of information and broadcasting during a committee’s meeting presided over by the Minister for Finance and Revenue Hafeez Shaikh. Secretary information briefed the forum that Pakistan Television Corporation is undergoing massive restructuring to make it a financially viable, professionally efficient and technically sound state-owned enterprise to amplify national narrative and formulate favourable public opinion. Minister for Privatization Mian Soomro, Adviser to Prime Minister on Institutional Reforms and Austerity Ishrat Hussain along with the senior officials from the ministry of finance and ministry of privatization participated in the meeting.

Ministry of finance presented a report on triage of state owned enterprises before the cabinet committee on state-owned enterprises. The committee, after detailed discussion directed officials to streamline the existing categories for the privatisation of SOEs and present a roadmap before the committee. The committee further directed the concerned ministers to utilise the interim period effectively and workout options for restructuring including possibility of management contracts, where applicable, and update cabinet committee on state-owned enterprises periodically.

It was decided that the forensic audit of major loss making state-owned enterprises would be conducted in accordance with the directives of the Prime Minister Imran Khan.

Secretary finance briefed the committee that Auditor General’s Office is on board and has started collecting data whereas several private sector firms have also shown interest in this regard. The committee decided that keeping in view the large number of entities the forensic audit task may be distributed among the private firm(s) and the Auditor General of Pakistan according to the rules.