PSM Privatization: Hafeez Shaikh shows anger over delay

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The Finance Minister of Pakistan, Hafeez Shaikh, shows his anger over the delay in PSM privatization by the cabinet members.

Over PSM privatization, Hafeez Shaikh shows his dissatisfaction over the Energy Task Force’s proposal against early strategic sale of power distribution companies.

Heated discussions took place during a meeting of the Cabinet Committee on Privatisation (CCOP) on the issue of delay in privatisation of Pakistan’s largest industrial unit that remains closed for the last almost four years, said officials who attended the meeting.


CCOP Chairman Abdul Hafeez Shaikh took exception to dilly-dallying approach adopted by the Ministry of Industries on the issue of PSM privatisation, according to officials who attended the meeting. The finance adviser directed the ministries concerned to fast-track the process of PSM privatisation, they added.

Shaikh also directed Nadeem Baber, Chairman Energy Task Force and Special Assistant to PM on Petroleum, to propose at least one power distribution company during the next fiscal year.

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