Govt Proposes New Body to Streamline Privatisation Efforts

News Desk

ISLAMABAD: The government has introduced a bill in the National Assembly aimed at establishing a new Privatisation and Public-Private Partnership Commission (PPPPC) by merging the existing Public-Private Partnership Authority (P3A) and the Privatisation Commission.

This initiative seeks to eliminate duplication of institutional functions and streamline the privatisation process.

The proposed legislation includes amendments to the Privatisation Commission Ordinance of 2000 and the Public-Private Partnership Authority Act of 2017.

Notably, it offers legal immunity to current and former chairmen, secretaries, board members, officials, and consultants from any acts of omission or commission conducted in good faith, ensuring that public funds are committed to defending against any legal challenges.

This powerful new commission will be chaired by the incumbent Muhammad Ali and will feature a majority of members from the private sector, including two women directors.

The establishment of this commission is expected to enhance the efficiency of privatisation efforts, potentially attracting more foreign investment and improving the overall economic landscape of Pakistan.

As the National Assembly deliberates on this bill, stakeholders are keenly watching for its implications on the country’s economic policies and the future of public-private partnerships.

The government aims to expedite the legislative process to ensure the commission is operational as soon as possible, with further discussions anticipated in the coming weeks.