NA body discusses progress on privatisation of ZTBL, DISCOs

A National Assembly panel on privatisation, chaired by Muhammad Farooq Sattar, reviewed the progress of the sale of Zarai Taraqiati Bank Limited (ZTBL) and the Distribution Companies (DISCOs) during a meeting at Parliament House on Tuesday, according to Business Recorder. The body was briefed on the current position and the proposed next steps for ZTBL. Lawmakers were told that the cabinet had signed off on adding the bank to the 2024-29 Privatisation Programme on August 13, 2024.

The committee also reviewed how its earlier recommendations were being put into effect and asked the ministries, departments and organisations concerned for updated, accurate information along with any necessary follow-up. Members stressed that the privatisation process must be transparent, carried out with due diligence and in strict compliance with the prescribed rules. The DISCO sale was discussed as well, with the panel seeking detailed information on progress and related developments.

The panel further recommended that, if privatisation goes ahead, the jobs, service rights and legitimate interests of current employees be fully protected under applicable laws and regulations.