Pakistan

News regarding PTV privatization are baseless, says Shibli Faraz

Federal Information Minister Syed Shibli Faraz has said that the government is not looking to privatise PTV.

 

“News regarding PTV’s privatisation are baseless. [The channel] is being restructured,” the minister told SAMAA TV late Thursday.

Faraz said a new board of directors will soon be hired to oversee PTV’s operations. We are working on the channel’s managerial structure, he said.

“I have been a minister for the last eight months and never have we ever discussed the idea.”

Previously, it was reported that the federal cabinet committee on privatisation approved the privatisation and only the cabinet’s nod was awaited to seal the deal.

Initially, 18 institutions were on the government privatisation programme’s list but recently more names were added, including PTV’s.

Some of the information the committee has requested includes:

  • Regulatory and legal framework
  • Governance/management structure
  • Market share
  • Financial structure including net equity
  • Latest audited financial statement
  • Profit and loss statement for the last five years
  • Non-performing loans/receivables for this year
  • Liabilities as of June 2020

It wants this information within seven days.

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