ISLAMABAD, JUN 19 /DNA/ – The Privatisation Commission (PC) Board, in its meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission, considered and approved a number of important measures relating to the Government’s ongoing privatisation programme.

As part of the Government’s efforts to enhance efficiency, improve service delivery, and attract private sector investment, the Board approved the restructuring plan for Faisalabad Electric Supply Company (FESCO). FESCO forms part of the first batch of Power Distribution Companies (DISCOs) identified for privatisation, alongside Gujranwala Electric Power Company (GEPCO) and Islamabad Electric Supply Company (IESCO). The restructuring plan, prepared by the Financial Adviser, will now be submitted to the Cabinet Committee on Privatisation (CCoP) for consideration and approval.

The Privatisation Commission has already invited Expressions of Interest (EOIs) from domestic and international investors for the privatisation of the first batch of DISCOs, marking a significant step towards expanding private sector participation in Pakistan’s power distribution sector and improving operational performance.

The Board also approved the consortium led by KPMG, in association with Bridge Factor and other consortium partners, as the highest-ranked bidder for appointment as Financial Adviser for House Building Finance Company Limited (HBFCL). To facilitate the next phase of the transaction, the Board constituted a Negotiation Committee to finalise the Financial Advisory Services Agreement (FASA) with the successful consortium.

In another important agenda item, the Board reviewed the proposed Transaction Advisory Services Agreement (TASA) with the Asian Development Bank (ADB) for the outsourcing of operations at Islamabad International Airport (IIAP). Following a detailed discussion, the Board appreciated the progress made on the transaction and provided guidance on certain provisions of the proposed agreement, seeking further clarity before its consideration at a subsequent meeting. The proposed transaction envisages the engagement of a qualified private sector operator under a long-term concession framework through a transparent and competitive process. The initiative is aimed at enhancing operational efficiency, improving passenger experience, and aligning airport services with international best practices.

The Board further approved the budget estimates of the Privatisation Commission for the financial year 2026–27, enabling the organisation to effectively pursue its strategic objectives and manage an expanding pipeline of transactions.

The Board reaffirmed the Government’s commitment to implementing a transparent, competitive, and investor-friendly privatisation programme that promotes economic growth, attracts investment, improves public service delivery, and supports the broader reform agenda.

The Privatisation Commission remains committed to conducting all transactions in accordance with applicable legal and regulatory frameworks, while ensuring transparency, accountability, and value maximisation for the people of Pakistan.

ISLAMABAD, JUN 19 /DNA/ – Dr. Anam Fatima, Chief Officer, Municipal Corporation Islamabad (MCI), has said that transparency, digitization and stakeholder engagement are essential for improving civic services and ensuring good governance. Addressing a ceremony organized by the Islamabad Chamber of Commerce and Industry (ICCI) in celebration of her conferment of the prestigious Tamgha-e-Imtiaz, she expressed gratitude to the business community for its continued support and cooperation. She emphasized that MCI has introduced a series of reforms aimed at reducing public inconvenience and eliminating human involvement, including the digitization of key municipal taxes and permits. She announced that services related to parking permits, generator licenses, open-space permits and fee collection have been shifted online, enabling businesses and citizens to complete procedures without direct interaction with officials.

Dr. Anam Fatima said that her Department has consistently promoted respectful and dignified enforcement practices, particularly during anti-encroachment operations. She noted that birth and death registration services have also been digitized and integrated with modern verification systems to facilitate citizens. Highlighting MCI’s development agenda, she said the Corporation is actively working on environmental improvement, restoration of drainage channels, and protection of Islamabad’s water resources and removal of encroachments. She assured the business community that issues related to parking, markets, industrial areas and other civic concerns would continue to receive priority attention through consultation and collaborative planning with stakeholders.

Appreciating the role of traders and market associations, she said their support has been instrumental in implementing civic reforms and improving the city’s infrastructure. She reiterated her commitment to maintaining an open-door policy and ensuring that MCI remains responsive, accessible and accountable to the people of Islamabad.

Speaking on the occasion, Sardar Tahir Mehmood, President ICCI, congratulated Dr. Anam Fatima on receiving Tamgha-e-Imtiaz and termed it a well-deserved recognition of her exemplary public service, integrity and dedication to Islamabad’s development. He said her leadership has brought a new culture of professionalism, transparency and responsiveness in municipal administration, benefiting both citizens and the business community.

Kamran Bakht Director Enforcement MCI highlighted the significance of consultative approach for strengthening trust among all the stakeholders to find practical and sustainable solutions to longstanding civic and enforcement issues.

Senior Vice President ICCI Tahir Ayub,  , said that Dr. Anam Fatima has set a remarkable example of public service through her professionalism, commitment and people-centric approach. He observed that her efforts to modernize municipal services and maintain continuous engagement with stakeholders have significantly improved the relationship between the civic administration and the business community. He expressed confidence that her visionary leadership would continue to contribute to Islamabad’s progress and prosperity.

Vice President Irfan Chaudhry, said that the conferment of Tamgha-e-Imtiaz on Dr. Anam Fatima is a matter of pride for Islamabad and a recognition of her outstanding contributions to civic administration. He appreciated her accessibility, positive attitude and willingness to address issues faced by traders and citizens alike

President Islamabad Women Chamber of Commerce and Industry Samina Fazil, congratulated Dr. Anam Fatima on the prestigious award and praised her efforts to support women entrepreneurs and promote inclusive economic development. She said Dr. Anam’s achievements serve as an inspiration for women across the country and reflect the positive role women leaders can play in national development.

On this occasion, the elected representatives of the Traders Welfare Associations across Islamabad while congratulating Dr. Anam Fatima over the decoration with Tamgha e Imtiaz mentioned the problems of their respective markets for their earlier resolution. Former SVP Khalid Chaudhry conducted the ceremony.

The ceremony was attended by ICCI executive members, including Raheel Anwar Butt,  Waseem Chaudhry, Ishaq Sial, Abdul Rehman Siddiqui, Malik Abdul Aziz, Raja Naveed Satti, Zulqurnain Abbasi, Ms. Fatima Azim, Umer Khayyam Abbasi,   trade leaders including Yosufu Rajput, Kamran Kakakhel, Waseem Abbasi, Ahmed Khan,  Ch. Waheed Cheema, Ajab Khan,  Ms. Uzma Sheeraz,  Raja Zulfiqar and other who warmly felicitated Dr. Anam Fatima on receiving Tamgha-e-Imtiaz and acknowledged her valuable contributions to public service and civic development.=DNA

ISLAMABAD, JUN 19: Inspector General of Police (IGP) Syed Ali Nasir Rizvi chaired a high-level meeting to review security arrangements, traffic management and emergency preparedness ahead of Muharram-ul-Haram in the federal capital.

An official told APP on Friday that the meeting was attended by DIG Islamabad, DG Safe City, AIG Logistics and SSP Prisons, who discussed various operational and security matters.

The official said the participants reviewed a comprehensive strategy relating to Muharram security, traffic management, emergency response mechanisms and public facilitation measures.

IGP Rizvi reviews Muharram security, emergency preparedness in high-level meeting

 IGP Rizvi directed officers to further strengthen security arrangements through the use of modern technology, effective coordination and timely response to emerging situations.

He emphasized the need for enhanced inter-departmental coordination to ensure the smooth implementation of security plans and the uninterrupted delivery of public services during Muharram.

 IGP also stressed maintaining high operational readiness and ensuring prompt response to any emergency situation.

He directed officers to utilize all available resources to provide citizens with a safe, peaceful and facilitation-oriented environment across the federal capital.

ISLAMABAD, JUN 19: SP Judicial Protection Unit (JPU) Iqbal Khan visited the National Assembly and reviewed security arrangements in place during the ongoing parliamentary budget session.

An official told APP on Friday that the SP Iqbal inspected various security points and assessed the deployment of police personnel assigned to ensure the safety and security of lawmakers, officials and visitors.

Iqbal met officers and personnel performing duties at the National Assembly and reviewed operational preparedness and implementation of security measures.

SP JPU Iqbal Khan reviews National Assembly security during budget session
The SP briefed officers and jawans on their responsibilities and directed them to remain vigilant and perform their duties with professionalism, dedication and a high sense of responsibility.

He emphasized strict adherence to security protocols and instructed personnel to maintain a heightened level of alertness throughout the parliamentary session.

SP JPU Iqbal Khan reviews National Assembly security during budget session
The official said Islamabad Police remained committed to ensuring foolproof security at important national institutions and taking all necessary measures to maintain a secure environment during parliamentary proceedings.

SP Iqbal also appreciated the professionalism of the deployed personnel and directed them to continue performing their duties with commitment and discipline, the official added.

ISLAMABAD, JUN 19: Prime Minister Shehbaz Sharif has announced that the government intends to reduce petrol prices substantially after oil prices retreated following a US-Iran peace deal.

“We had promised that we would bring the price of petroleum products down and repay each penny to the people,” he said during his address to the National Assembly in Islamabad on Friday.

“So today, after our weekly review, we will announce a significant reduction [in the price of petroleum products],” the prime minister said, praising his ministers for managing the oil crisis.

In the previous weekly review, the federal government slashed the prices of petrol and diesel by Rs4 and Rs2 per litre, respectively, for the week ending June 19.

The prime minister praised the chief ministers for backing the federal government in providing relief to the people through targeted subsidies.

He reminded the House that when the oil prices skyrocketed, the Centre had utilised around Rs128 billion to provide relief to the public.

Oil prices fell further on Friday as prospects for more supply brightened after oil tankers began moving through the reopened Strait of Hormuz following the peace deal, for which Pakistan was the main mediator.

The government, which would review the price of petroleum products on a fortnightly basis, has been reviewing petroleum prices on a weekly basis since the US-Israeli conflict with Iran on February 28.

The price of petrol was Rs258.17 per litre when the war began and jumped to as high as Rs458.41 per litre, before coming a little above Rs370 per litre, just a few days back. Meanwhile, diesel was at Rs275.7 per litre and jumped to as high as Rs520.35 per litre.

The conflict had triggered a global fuel crunch after the closure of the Strait of Hormuz, a key route through which around one-fifth of the world’s oil and gas supplies pass during peacetime. It also led to a rise in inflation not only in Pakistan but across the globe.

Petrol is mainly used by commuters in small vehicles, rickshaws and two-wheelers. Higher fuel prices significantly impact the budgets of middle and lower-middle-class households, who rely on petrol for daily travel.

On the other hand, a significant portion of the transport sector relies on high-speed diesel. Its price is considered inflationary since it is predominantly used in heavy goods transport vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers.

NA hails Pakistan’s role in US-Iran peace deal via unanimous resolution
Meanwhile, the House unanimously adopted a resolution welcoming the cessation of hostilities and the signing of a framework agreement for peace and stability between the United States and Iran, while praising Pakistan’s role in facilitating the diplomatic breakthrough.

Moved by Federal Minister for Law and Justice Azam Nazeer Tarar, the resolution noted with “immense satisfaction and pride” the landmark agreement between the two countries. It also highlighted the adverse impact of the conflict on regional peace and stability, as well as on global economic stability and energy security.

The House placed on record its profound appreciation for Prime Minister Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Ishaq Dar, Interior Minister Mohsin Naqvi, Field Marshal Asim Munir and the entire negotiating team for their efforts in advancing the peace process. The resolution stated that their sincere and tireless efforts helped position Pakistan as a trusted neutral mediator on the global stage. It also congratulated the leaders of Iran and the United States on the successful conclusion and signing of the historic peace deal.

The National Assembly praised PM Shehbaz, Chief of Defence Forces Syed Asim Munir, Deputy Prime Minister Ishaq Dar and others for playing key roles in the peace deal.

The House also congratulated and appreciates the leader of the Islamic Republic of Iran and the United States of America for successful completion and signing of this historic peace deal.”

The resolution reads: “Whereas the National Assembly of Pakistan notes with immense satisfaction and pride the landmark diplomatic breakthrough in form of cession of hostilities, and signing of an agreement on a framework for peace and stability between the United States of America and the Islamic Republic of Iran.”

“Whereas the House recognises the negative fallout of the conflict for the regional peace and stability as well as for the economic stability and energy security of the countries across the globe. The House places on record its profound appreciation for the Prime Minister of Pakistan Muhammad Shehbaz Sharif, Deputy Prime Minister Senator Muhammad Ishaq Dar, Interior Minister Syed Mohsin Naqvi and Field Marshal Syed Asim Munir and the entire team engaged in process of negotiations. Their sincere and tireless efforts positioned Pakistan as a trusted neutral mediator on global stage.”

KARACHI: A Chief Minister’s Inspection Team report has flagged financial irregularities of more than Rs8 billion in Karachi’s BRT Yellow Line project, terming the matter serious mismanagement.

“The administrative protocols governing contract management, tax deduction and deposition into the government exchequer, and disciplined execution have repeatedly been violated,” the report said.

The inquiry was ordered into financial mismanagement in the Karachi Mobility Project (KMP) for the Yellow Line BRT — designed to connect Quaidabad’s Dawood Chowrangi with Numaish — being implemented with financial assistance from the World Bank.

According to the report, the project includes the construction of the new Jam Sadiq Bridge, Depot-I at Dawood Chowrangi and Depot-II at Indus Hospital, Karachi.

The report said then-KMP Project Director Zamir Abbasi and Director Jhaman Das issued cheques and payments to contractors, while “all established checks and balances” were bypassed, including those involving the PAO, consultants, PMC and SMTA.

A table in the report showed advance payments of Rs885 million for Depot-I, Rs2 billion for Depot-II and Rs5.682 billion for Jam Sadiq Bridge, taking the total to Rs8.567 billion.

It said the advance payments were made in violation of rules and provided contractors with an undue benefit, while also putting the Yellow Line project and the bank agreement at risk.

The report noted that the awarded cost of the Jam Sadiq Bridge was Rs12.53 billion, Depot-I Rs2.64 billion and Depot-II Rs16.96 billion. It showed physical progress up to April 2026 at 55.17% for JSB, 10% for Depot-I and 35.62% for Depot-II.

“The management practices adopted by KMP represent a classic case of sham administration,” the report said, adding that the matter warranted proceedings under relevant E&D and Misconduct Rules.

The report also said the conduct reflected “unfitness for civil service” and rendered the official “undeserving of any position of trust or responsibility in the future”.

It recommended administrative and remedial measures by the Transport and Mass Transit Department to “rescue the project”.

The report also recommended a criminal investigation against the administration, after which the Anti-Corruption department registered an FIR.