{"id":86095,"date":"2022-05-20T17:01:29","date_gmt":"2022-05-20T12:01:29","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=86095"},"modified":"2022-05-20T17:01:34","modified_gmt":"2022-05-20T12:01:34","slug":"privatisation-information-jcc-status","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/privatisation-information-jcc-status.html","title":{"rendered":"Privatization Commission seeks fresh information on Jinnah Convention Center&#8217;s status"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Islamabad: The Privatization Commission (PC) has asked the Capital Development Authority (CDA) for fresh information regarding the status of the privatization of the Jinnah Convention Center (JCC) in Islamabad, news sources reported on May 20.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/cda-privatisation-commission-meeting-jcc.html\" data-type=\"post\" data-id=\"81643\" target=\"_blank\" rel=\"noreferrer noopener\">CDA, privatisation commission to hold joint meeting about JCC<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The PC has asked CDA to change the status of the land from \u201camenity&#8221; to &#8220;commercial&#8221; as decided by the federal cabinet.&nbsp; Reportedly, PC has also directed CDA to inform the commission about the change of allotment letter of the JCC if required, according to the rules and regulations of the CDA. Moreover, the authorities are directed to submit a cost estimation report based on seven different scenarios developed by PC&#8217;s financial advisors premised on the JCC property&#8217;s layout plan (LOP) and any suggested changes to the approved transaction structure.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In related developments, the <a href=\"https:\/\/www.zameen.com\/news\/women-property-rights-bill.html\" data-type=\"post\" data-id=\"77591\" target=\"_blank\" rel=\"noreferrer noopener\">Senate Standing Committee on Privatization<\/a> has called on CDA to testify about the events and its concerns related to JCC privatization. Senator Shamim Afridi, the committee&#8217;s chairman, has stated that the matter would be thoroughly addressed in order to determine the fate of the 7.59-acre tract of property in Islamabad.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/cda-water-supply-50-mgd.html\" data-type=\"post\" data-id=\"86027\">CDA plans to boost water supply to 50 MGD by month\u2019s end<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The committee will also discuss whether the land should be privatised or retained, as well as its rehabilitation and maintenance under state control. It is important to mention here that the CDA has already said in November that it has <a href=\"https:\/\/www.zameen.com\/news\/privatisation-jinnah-convention-center.html\" data-type=\"post\" data-id=\"81319\" target=\"_blank\" rel=\"noreferrer noopener\">no objection to the privatisation of the JCC<\/a>. The government had decided to privatise a number of State-Owned Enterprises (SOEs) as per its privatisation policy to reduce budget deficits.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Privatization Commission (PC) has asked the Capital Development Authority (CDA) for fresh information regarding the status of the privatization of the Jinnah Convention Center (JCC) in Islamabad, news sources reported on May 20.\u00a0 Read: CDA, privatisation commission to hold joint meeting about JCC The PC has asked CDA to change the status of the land from \u201camenity&#8221; to &#8220;commercial&#8221; as decided by the federal cabinet.&nbsp; Reportedly, PC has also directed CDA to inform the commission about the change of allotment letter of the JCC if required, according to the rules and regulations of the CDA. Moreover, the authorities are directed to submit a cost estimation report based on seven different scenarios developed by PC&#8217;s financial advisors premised on the JCC property&#8217;s layout plan (LOP) and any suggested changes to the approved transaction structure.&nbsp; In related developments, the Senate Standing Committee on Privatization has called on CDA to testify about the events and its concerns related to JCC privatization. Senator Shamim Afridi, the committee&#8217;s chairman, has stated that the matter would be thoroughly addressed in order to determine the fate of the 7.59-acre tract of property in Islamabad.\u00a0 Read: CDA plans to boost water supply to 50 MGD by&hellip;<\/p>\n","protected":false},"author":84,"featured_media":75427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[52371,52370,52369],"persona":[],"class_list":["post-86095","post","type-post","status-publish","format-standard","has-post-thumbnail","category-notices-announcements","tag-jinnah-convention-center","tag-privatisation-commision","tag-privatisation-commission-seeks-information-on-jcc-status","cat-15017-id"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Privatisation Commission seeks information on JCC status - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Privatization Commission (PC) has asked the Capital Development Authority (CDA) for fresh information regarding the status of the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/privatisation-information-jcc-status.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Privatisation Commission seeks information on JCC status - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Privatization Commission (PC) has asked the Capital Development Authority (CDA) for fresh information regarding the status of the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/privatisation-information-jcc-status.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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