The federal finance minister announced on Friday that the federal government had taken possession of Sarmaya-e-Pakistan for all state businesses.
Finance Minister Asad Umar made the announcement in a Twitter post.
Govt New State-owned Company Will Hold All State-owned Companies: Asad Umar
“State-owned companies Sarmaya e Pakistan has been included.” The review of state-owned companies and the elimination of their losses used to use resources for development and well-being is essential for Pakistan’s economic change, “she says tweet.
Sarmaya e pakistan, the holding company for state owned enterprises, incorporated. Turning around the state owned enterprises and eliminating their losses which are eating up resources which should be used for development and welfare, is vital for economic turnaround of Pakistan pic.twitter.com/H0Ptwr4xhH— Asad Umar (@Asad_Umar) February 15, 2019
Asad Umar said government focused on changing state-owned enterprises and eliminating their losses is essential for Pakistan’s economic change.
He added that the losses of these companies depend on resources to be used for development and well-being.
At the beginning of November there were reports that the government was planning to invest R. 500 billion in a company that will take control of all state-owned companies and change their fate.
According to reports, the federal government will have 100 percent shares, and government shares in the SOE will gradually be transferred to this new state-owned company.
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