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 Islamabad: The Privatization Committee of the Cabinet has approved the privatization of 10 power supply companies.

Under the chairmanship of Federal Privatization Minister and Chairman Privatization Commission Abid Hussain Bhayo, a review meeting regarding the privatization of national institutions was held in which the recent progress on the privatization program was informed.

The federal minister was told that on-site visits by pre-qualified companies for the rehabilitation of Pakistan Steel Mills are ongoing, the government is paying special attention to remove all the problems for the rehabilitation of steel mills, the National Power Parks Management Company. A strategy has been finalized with local banks for debt refinancing.

It was told in the meeting that the privatization of House Building Finance Corporation is expected in the current financial year, the working group established for the revival of discos has submitted its proposals to the Cabinet Committee on Privatization, while the Privatization Committee of the Cabinet has decided to privatize 10 power supply companies. Concession and management contract model has been approved.