Soomro vows transparency in privatisation.

Byline: Amin Ahmed

ISLAMABAD -- The PrivatAiAsation Commission on ThurAsday discussed the divestment of up to 10 per cent shares of the Oil and Gas Development Company Ltd (OGDCL) and decided to seek approval of the Cabinet Committee on Privatisation in its next meeting.

The committee on privatisation in its meeting in August 2019 had decided to divest up to 7pc of the government-owned shares in the OGDCL to generate non-tax revenue in order to retire national debt and give investors an opportunity to be part of the profit-making public sector enterprise. The meeting, chaired by Minister for Privatisation MuhamAadmian Soomro discussed the share price trend of the OGDCL in the capital market.

In addition, Soomro vowed to maintain transparency and accountability in privatisation of Public Sector Enterprises (PSEs) and said that acceleration of privatisation process is main focus of the government. The meeting...