The federal government has decided to privatize few organizations within the next five years to combat the mammoth amount of loss. Keeping in view, the Telephone Industry of Pakistan (TIP) is going to be privatized to generate more revenue yearly.
The anecdote of the privatization ruined out in a meeting of the Standing Committee of National Assembly on Information Technology and Telecommunication, headed by Ali Khan Jadoon.
The committee’s chairman Ali Jadoon inquired from the IT Ministry officials that why the TIP’s land in Haripur is not being used by the authorities. In response, because the country’s telecom maker is in the privatization list.
Moreover, the government will formally start the negotiation process with EXIM Bank of Korea, to establish a Technology Park in Islamabad at an estimated cost of 88.383 million dollars.
The government at the moment is expecting to get a loan of $76.31 million from the Economic Development Cooperation Fund (ECDF) from the EXIM Bank, at 0.1% interest rate for 40 years with 10 years grace period.