Privatization Commission Approves Fresh Privatization Process for House Building Finance, Roosevelt Hotel

**Islamabad (Daily Qudrat):** The Privatization Commission Board, in a key meeting chaired by Adviser on Privatization Muhammad Ali, has taken major decisions regarding the privatization of several state-owned entities.

During the meeting, the board decided to terminate the ongoing privatization process of the House Building Finance Company and initiate a fresh process from scratch to ensure better outcomes.

The Privatization Commission also announced the launch of a new privatization process for the Roosevelt Hotel in New York. It was decided to reappoint a financial adviser for the hotel to ensure transparency and efficiency in the privatization procedure.

The meeting further recommended including Islamabad International Airport in the privatization program under a concession model. The commission clearly rejected the option of a direct government-to-government (G2G) agreement for this project.

In addition, the board approved the establishment of separate transaction committees for the privatization of HESCO and SEPCO. Approval was also granted to hold negotiations with the Asian Development Bank for the appointment of a financial adviser to move forward with the privatization of Hyderabad Electric Supply Company and Sukkur Electric Power Company.

According to the Privatization Commission, these decisions aim to improve the performance of state-owned institutions and reduce the financial burden on the national economy.