By Karim Madad ISLAMABAD: May 23, (INP-WealthPK): The Privatization Commission has completed 182 transactions since 1991, generating Rs649.9 billion, data available with WealthPK shows. According to the data, seven transactions took place in the banking sector, generating proceeds of Rs41,023 million. Twenty-six transactions took place in the capital market, generating  proceeds of Rs303,494 million. Fifteen transactions took place in the energy sector, generating proceeds of Rs54,273 million.

• In telecom sector, four transactions took place, generating proceeds of Rs187,024 million.
• Seven transactions took place in the automobile sector, generating  proceeds of Rs1,102 million.
• In cement sector, 17 transactions took place, generating proceeds of Rs16,177 million.
• In chemical sector, 16 transactions were completed, generating proceeds of Rs1,643 million.
• In engineering and fertilizer sectors, seven transactions each took place, generating proceeds of Rs183 million and 40,281 million respectively.
• In the ghee mills sector, 24 transactions took place, generating proceeds of Rs842 million.
• In rice, roti plants, textile, newspaper and tourism sectors, 8, 15, 4, 5 and 4 transactions took place, generating Rs236 million, Rs91 million, Rs371 million, Rs271 million and Rs10,805 million respectively.
• In the real estate properties and others, 10 and 6 transactions have taken place, generating proceeds of Rs933 million and Rs.158 million respectively.

The Privatisation Commission (PC) was established on 22 January 1991 as a subsidiary of the Finance Division to implement the privatisation programme of the federal government. Subsequently, on 28 September 2000, Privatisation Commission Ordinance, 2000 (Ordinance) was promulgated and the Commission was converted into a body corporate, which further strengthened its legal authority to implement the government's privatisation policy. The Commission is tasked with privatizing the federal government assets such as its shares in banks, industrial units, public utilities, oil, gas and transport companies, and infrastructure service providers in an open and transparent manner. To enhance the private sector's role in the endowment of goods and services, the ordinance has vested decision-making powers to the Privatisation Commission Board (PC Board) consisting of eminent professionals from the public and private sectors. The decisions made by the PC Board are taken up with the Cabinet Committee on Privatisation (CCOP) for approval, which are subsequently ratified by the Cabinet.