On 10 August 2017 Daniyal Aziz took oath as Minister for Privatization but when asked on 17 August why the notification had not yet been issued he said: "I am not aware of why the notification has not been issued, but the Prime Minister promised me that he will allocate the Ministry of Privatisation to me because he knows my skills. I deserve the Ministry of Privatisation more than any other due to my educational background and services rendered to the World Bank and the Asian Development Bank in the field of economics".
Business Recorder tried to contact Daniyal Aziz as well as Sardar Ahmad Sukhera Secretary, Privatization Commission, but neither was available for comment. The Sharif administration indicated its intent to privatize five major entities in 2017: Pakistan Steel Mills (PSM), SME Bank, Industrial Development Bank, Kot Adu Power Company and divestment of Mari Petroleum Company Limited.
According to sources, the government through the PC intends to divest up to 18.39 percent of government shareholding in Mari Petroleum Company Limited (MPCL) to foreign and domestic institutional investors, high net worth individuals and general public through secondary public offering at the Pakistan Stock Exchange (PSX). And the PC has invited technical and financial proposals from interested parties comprising of not more than three members including a global co-ordinator, a consultant and a book runner to act as a financial advisory consortium for the transaction. The last date for submission of Expression of Interest (EOI) is September 25, 2017, sources added.
Prime Minister Shahid Khaqaan Abbasi after assuming office created several new ministries including the Ministry of Privatization with one constituent: Privatization Division. Previously it was under the administrative control of the Finance Division.
Copyright Business Recorder, 2017