Islamabad: Chairman of the Privatization Commission Mohammed Mian Soomro presided over a meeting to evaluate progress in the privatization of national assets, and stated that the Service International Hotel (SIH) in Lahore will be auctioned in the first week of August.
Read More: Tourism promotion will lead to prosperity
The commission was informed that the SIH will be auctioned in the first week of August and that the transaction would be completed by September 2021. The SIH is located on Upper Mall and spans 15 kanals. In addition, the weekly meeting decided to go forward with the privatisation of assets controlled by numerous ministries and organisations.
In addition, the Privatisation Commission, in cooperation with the Capital Development Authority, considered the privatisation of the Jinnah Convention Centre in Islamabad, a 7.5-acre facility adjacent to Constitution Avenue Islamabad (CDA). In a similar vein, the PC agreed to speed up the sale of 17 buildings and properties owned by federal ministries and agencies. The hiring of financial experts to monitor the process was also considered by the committee.