The Privatisation Commission removes TCP property from the auction list

On September 13, news sources said that the Commerce Ministry asked the Cabinet Committee on Privatization (CCoP) to take the Trading Corporation of Pakistan (TCP) plot off the privatisation list.

Read more with EL news: LDA will shortly open Manawan-Harbanspura-Ring Road

The TCP is going to use the 15-acre property next to Multan Industrial Estate to build a cold storage facility. The Prime Minister’s Office gave the go-ahead for the plot to be taken off the list (PMO). The CCoP has now asked the TCP to give the committee a full report and a report on whether or not the proposed cold storage facility is possible in the next six months. The committee has also asked that the project be built using the Public-Private Partnership (PPP) model. The people in charge told the committee that the building will be built with help from the Pakistan Fruits and Vegetable Exporters Association (PFVEA) and other business groups in the Multan area.

It’s important to note that the Privatization Commission reached a deal for the site that was free of all obligations and put it up for sale on September 16, 2020, but no one bid. But the TCP came up with a plan to build a plot for a cold storage facility to help the fruit growers in the area.