The National Assembly Standing Committee of on Privatization Tuesday emphasized the need for timely and effective implementation of its recommendations and directed the concerned quarters to ensure the prompt provision of complete, accurate, and updated information, along with necessary follow-up action.
The committee met here under the chairmanship of Muhammad Farooq Sattar, MNA and reviewed the implementation status of its previous recommendations and sought updates from the concerned ministry/departments, and organizations.
The Committee was given a comprehensive briefing on the current status and proposed course of action regarding Zarai Taraqiati Bank Limited (ZTBL).
The Committee was informed that the Federal Cabinet had approved the inclusion of ZTBL in the Privatisation Programme (2024–29) on August 13, 2024, following which the Privatisation Commission Board classified ZTBL as a Major Privatisation and initiated the process for its privatization.
The committee also considered matters relating to the proposed privatization of Distribution Companies (DISCOs) and sought detailed information on the progress, process, and related developments.
The committee underscored the importance of transparency, due diligence, and strict adherence to prescribed rules and procedures throughout the privatization process. It further recommended that, in the event of privatization, the employment status, service rights, and legitimate interests of existing employees be fully protected in accordance with the applicable laws, rules, and regulations.
The meeting was attended by Members of the National Assembly including Anwar-ul-Haq Chaudhary, Ms. Saba Sadiq, Ms. Samar Haroon Bilour, Ms. Sehar Kamran, and Arshad Abdullah Vohra.
The Secretary, Ministry of Privatisation/Privatisation Commission; President/CEO, Zarai Taraqiati Bank Limited (ZTBL); and senior officers from the Ministry and its attached departments also attended the meeting.
