The Senate approved the Privatisation Commission (Amendment) Bill, 2024, on Thursday. The session was chaired by Senate Chairman Yousuf Raza Gillani, during which Privatization Minister Abdul Aleem Khan presented the bill. It received unanimous approval from the Senate.
As part of the new legislation, an appellate tribunal will be established to oversee the privatisation process with judicial authority. This tribunal will consist of a chairman, a technical member, and a judicial member. A retired Supreme Court judge will serve as the chairman, with a three-year term for all members. The age limit for tribunal members is set at 65, and the federal government has the authority to remove any member, including the chairman.
The tribunal’s primary role is to ensure that the privatisation process is conducted transparently and to make final decisions on related matters. Appeals against the tribunal’s decisions can only be made to the Supreme Court within 60 days.
Aleem Khan Pushes for Development of Free Economic Zones
Recently, Abdul Aleem Khan announced plans to advance the development of free economic zones (FEZ) across the country. During a meeting he chaired, projects such as the Bin Qasim Industrial Park in Karachi and the Allama Iqbal Industrial City in Faisalabad were discussed. The focus will be on accelerating industrialization and increasing activity in all FEZs.
Aleem Khan highlighted that significant industrial progress is achievable in the 26 FEZs located in various cities. He urged concerned departments to address any delays in the process promptly. Emphasizing the importance of tangible progress, he stated, “We must move beyond discussions and take actionable steps for industrial advancement.”
Aleem Khan also suggested accommodating industries relocating from China to the Bin Qasim Industrial Park. He called on the Board of Investment (BoI) to present an action plan and ensure that relevant departments are actively engaged.
He added, “The BoI must not only speed up the process but also deliver results within a month.”
