The Punjab Privatization Board perform the following functions.
- Recommend privatization policy guidelines to the Government
- Prepare for the approval of the Government a comprehensive privatization programme
- Plan, manage, coordinate, implement, and control the privatization programme approved by the Government
- Provide overall directions for the implementation of the privatization related activities including restructuring, deregulation, and postprivatization matters in the sectors designated by the Government
- Take operational decisions on matters pertaining to the privatization
- Issue directions and instructions for the management of a business, commercial or industrial undertaking falling within the purview of the privatization programme approved by the Government
- Publicize the activities of the privatization programme
- Approve the reserve and base price of the assets and properties to be privatized
- Determine, with the prior approval of the Government, the final price of the property
- Envisage, approve and take decisions and perform all acts to implement the pre-privatization restructuring, labour rehabilitation, and severance schemes, and all other related matters as approved by the Government
- Appoint advisors, consultants, valuators, actuaries, lawyers, auditors, and such other staff as may be necessary for the discharge of its functions under this Act, and determine the terms and conditions of such appointments
- Perform such other functions as may be incidental to carrying out the privatization programme
- Approve the budget estimates, the audited accounts, and the annual report of the Board in accordance with the provisions of this Act, the rules and the regulations; call for any information or direct any research to be made for the furtherance of the objective of this Act; and
- Frame the regulations