CCoSOEs decides not to privatise PTV

By Staff Reporter
Thursday – January 21, 2021
ISLAMABAD: The cabinet committee on state owned enterprises (CCoSOEs), on the request of information and broadcasting ministry, decided to delist Pakistan Television Corporation (PTV), Wednesday, from the list of state owned enterprises (SOEs) categorised for privatisation.

According to a press release, the finance and revenue minister (FRM) Abdul Hafeez Shaikh chaired the meeting of the CCoSOEs in the federal capital.

The information secretary briefed the forum, “PTV is undergoing massive restructuring to make it a financially viable, professionally efficient and technically sound SOE to amplify national narrative and formulate favourable public opinion.”

The finance ministry presented a report on triage of SOEs before CCoSOEs.

The CCoSOEs, after detailed discussion directed to streamline the existing categories for the privatisation of SOEs and present a roadmap before the committee.

The CCoSOEs 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 CCoSOEs periodically.

The CCoSOEs decided the forensic audit of major loss making SOEs shall be conducted in accordance with the directives of the prime minister.

The finance secretary 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 CCoSOEs decided, 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 as per rules.

The finance secretary updated the CCoSOEs on the progress made on Draft SOE Bill 2020.

After following due consultative process on the Draft SOE Bill 2020, the finance division has submitted the same to the law and justice division.

Once the draft bill is cleared, it will be presented before the cabinet for approval, before bringing it in the parliament.

The privatisation minister Muhammad Mian Soomro, adviser to prime minister on institutional reforms and austerity (A-PM-IR-A) Ishrat Hussain along with the senior officials from the finance ministry and privatisation ministry participated in the meeting.