Islamabad September 21, 2021: Regarding the process of privatization of Services International Hotel, Chairman Senate Committee on Privatization questioned the officials as to how a bid is considered successful when minimum number of bidders were not there for auction to which Ministry officials answered that there is no legal issue with regards to minimum number of bidders in an open auction.
Ministry officials reiterated their stance that bidding was done as per law with complete transparency.
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Government To Privatize Services International Hotel Lahore For A Minimum PKR 1.95 Billion: Privatization Commission
Earlier, Senate Committee on Privatization was briefed in detail regarding privatization of Services International Hotel, Lahore. Secretary privatization commission informed the committee members that Privatization of Services International Hotel is in final stages and matter is to be laid before cabinet for final approval. Bidding has taken place through an open auction. Two bidders submitted the bids for the reserved base price of 1.94 Billion. Commission received one bid higher than the reserved base price amounting to 1.95 Billion other one was below the reserved price and subsequently did not qualify.
Senator Sabir Shah said that “It is a commercial property and we believe that reserved base price of 1.94 Billion rupees is very low”. Committee members were of the view that issue needs to be probed further. Chairman Committee directed to write a letter to Cabinet in order to inform them of the reservations of the committee members on the issue. It will be requested that final approval of the privatization should not be given by cabinet pending decision of the Senate Standing Committee. Discussion on the matter was deferred to be taken up again in the next meeting of the committee.
Meeting of Senate Standing Committee on Privatization was held under the chairmanship of Senator Shammim Afridi at Parliament House.