Disinvestment, he said would be undertaken following due process and all legal and coda formalities would be observed.

He made these observations during a meeting with Privatization Commission at the Finance Ministry, this morning, held to review the progress in the disinvestment of PSE's.

The Chairman Privatization Commission Muhammad Zubair briefed the Finance Minister on the status of various PSE's and the steps taken so far by the Privatization Commission to disinvest them.

The Finance Minister was informed that the Lakhra Coal Power Project had been cleared by Cabinet Committee on Privatization (CCOP) for disinvestment.

The Finance Minister directed the Privatization Commission to initiate a summary for disinvestment of Lakhra Project for approval by the Council of Common interest (CCI) which is due to meet shortly.

The meeting was attended by the Secretary Finance Dr Waqar Masood Khan, Advisor to the Ministry of Finance Rana Asad Amin, Secretary Privatization Commission, Amjad Ali Khan and senior officials of Finance and Privatization Commission.

(APP)