ISLAMABAD : The Cabinet Committee on Privatisation (CCoP) on Monday directed the Ministry of Industries and Production and Privatization Commission to submit their proposals regarding privatization of Pakistan Steel Mills in the next CCoP meeting.

Adviser to the Prime Minister on Finance, Revenue and Economic Affairs, Dr Abdul Hafeez Shaikh chaired meeting of the Cabinet Committee on Privatization (CCoP), here. While presenting the report of the task force on energy reform, the Ministry of Energy briefed the Committee about the challenges being faced by the DISCOs. Various measures recommended by the task force for improving the performance of energy sector with a focus on reduction of losses and enhancing the efficiency of DISCOs were discussed during the meeting. The Committee directed the Ministry of Energy to submit proposals aimed at accelerating closure of those GENCOs that have outlived their recommended life and are running into losses.

Privatization of Pakistan Steel Mills was also discussed. The Committee directed Ministry of Industries and Production and Privatization Commission to submit their proposals in the next CCoP meeting. Issue of delisting of House Building Finance Corporation Ltd (HBFC) from the privatization list was also recommended to be presented in the next meeting.

The Meeting was attended by the Federal Minister for Privatization, Muhammad Mian Soomro, Adviser on Commerce, Textile, Industry and Production and Investment, Abdul Razak Dawood, various federal secretaries and senior officials of the government of Pakistan.