Islamabad: The caretaker government has implemented the decision to end the role of high courts in privatization matters.

The supervisory federal cabinet has approved the establishment of the Privatization Appellate Tribunal, and the notification for the establishment of the Privatization Appellate Tribunal has also been approved.

The news sources said that the Federal Cabinet has approved the Ministry of Privatization through summary circulation; however, it has been decided to establish a Privatization Appellate Tribunal under the Privatization Amendment Ordinance 2023. The purpose of the decision is to avoid unnecessary delay in the privatization process.

Furthermore, the Privatization Appellate Tribunal will consist of three members, while the head of the Privatization Appellate Tribunal will be a retired judge of the Supreme Court.

Apart from this, the Privatization Appellate Tribunal will have one judicial and one technical member; all civil and criminal matters related to privatization will be heard in the Privatization Appellate Tribunal, apart from which no court will hear these matters.

Furthermore, an appeal can be filed in the Supreme Court within 60 days against the decision of the Appellate Tribunal, while the establishment of the Appellate Tribunal will speed up the process of privatization of state-owned enterprises, and litigation will remove obstacles in the way of the privatization process.