ISLAMABAD: The federal government has released details of state run industries privatised during the last 25 years. The government generated over Rs 60.99 billion
from the privatisation of 98 industr
ial units. 19 among the privatised industr
ial units are functional and the remainder shut down, while their property has been sold out.
According to statistics issued by finance ministry privatisation commission, 98 industr
ial units were privatised
from 1991 to 2016. They include 7 automobile units, 15 cement factories, 13 chemical factories, 7 engineering units, 6 fertilizer manufacturing factories, 23 ghee factories, 8 rice factories and 4 textile units and 15 roti plants.
According to documents, 7 industr
ial units in auto mobile sector were sold out against Rs 1.10 billion. Millat tractors were sold at a price of Rs 306
million and Nia Daur motors were sold out at a price of Rs 22
million. Revenue amounting to over Rs 16.24 billion was generated
from the privatisation of 15 cement factories, over Rs 1.64 billion out of auction of 13 chemic
al manufacturing industr
ial units, Rs 183
million out of privatisation of 7 industr
ial units i
n engineering sector, over Rs 40 billion out of privatisation of fertilizer factories and Rs 843
million against privatisation of 23 ghee factories.
As per documents, Rs 94
million were obtained
from privatisation of 15 Roti plants while Gulshan Iqbal Roti plants fetched the highest price to the tune of Rs 20
million while Bahawalapur Roti plant was sold out at the lowest price of Rs 2
million. 4 industr
ial units in textile sector were privatised against Rs 371
million while Lasbella textile mill was sold out at the highest price of Rs 156
million. The cotton ginning factory fetched the lowest price, Rs 1
million.
According to documents, 18 industr
ial units which were privatised had paid tax amounting to over Rs 852.5
million to FBR. On the other hand, FBR has failed to recover tax
from 42 industr
ial units while no record is available with FBR in respect of 38 industr
ial units.
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