Pakistan HEC meeting

Progress of Federal Minister in the Privatization Process of HEC

The Caretaker Federal Minister for Privatization, Fawad Hasan Fawad, chaired an extensive meeting on Monday at the Privatization Division to meticulously assess the advancements made in the sale and privatization process of the Heavy Electrical Complex (HEC). The gathering aimed to delve into various aspects of the ongoing proceedings. During the meeting, Minister Fawad provided explicit directives to IMS Engineering, the designated buyer, emphasizing the completion of all requisite formalities and paperwork essential for the seamless finalization of the transaction by the month’s end.

Attending this crucial session were pivotal stakeholders, including representatives from IMS Engineering, the Financial Advisor, the Ministry of Industries, and the Bank of Khyber. The inclusive participation ensured a comprehensive discussion covering a spectrum of concerns related to the privatization initiative.

The meeting served as a platform for stakeholders to engage in detailed deliberations, resulting in the formulation and finalization of a strategic roadmap. This roadmap delineates the intricate steps and procedures necessary for the ultimate conclusion and settlement of the sale agreement.

In essence, the gathering not only aimed to review the current status of the privatization process but also sought to provide clear guidance to all involved parties, fostering a detailed understanding of the tasks and timelines associated with the successful privatization of the Heavy Electrical Complex.

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