ISLAMABAD (APP) – Approximately 12 multinational businesses have shown a strong interest to the parliament in the outsourcing-bidding process for airport facilities, which is anticipated to begin in July, according to Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Saturday.
Speaking at the post-budget news conference, he said that the government was making earnest efforts to improve the efficiency of all national companies that were losing money in order to turn them around and transform them into profitable businesses.
In addition, he said that the government’s top priority for reform was the privatisation of distribution businesses, noting that the electricity industry now received Rs 900 billion of the total Rs 1,074 billion in subsidies.
The minister said that much work had been accomplished and that the government was pursuing alternative renewable energy sources, such as solar and wind.
The minister said that specific steps were included in the federal budget to increase exports in relation to their improvement. The minister said that the relevant ministries, including trade and finance, were in contact with the appropriate authorities as the government was also negotiating for the extension of GSP plus status with the European Union (EU).