Pakistan announces privatisation of all state-owned enterprises

Pakistan PM Shehbaz Sharif chaired a review meeting on matters related to the Ministry of Privatization and Privatization Commission in Islamabad.

Published on: May 14, 2024, 16:35:00 IST

By HT News Desk

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Pakistan PM Shehbaz Sharif on Tuesday announced privatisation of all state-owned enterprises except those that are strategically important, ARY News reported.Sharif made the decision while chairing a review meeting on matters related to the Ministry of Privatization and Privatization Commission in Islamabad. In the meeting, a roadmap for the Privatisation Program 2024-29 was presented, which includes the privatisation of power distribution companies. The Pakistan PM has instructed all federal ministries to take required action in this regard and cooperate with the Privatization Commission.

Pakistan PM Shehbaz Sharif on Tuesday announced the privatisation of all state-owned enterprises except for strategically important entities, (File photo)

Sharif believes that the privatisation of state-owned enterprises would save the taxpayers' money and help the government provide quality services to the people.

"Government's job is not to do business but to ensure a business and investment-friendly environment," Pakistan's PM said, news agency ANI reported citing ARY News.

Sharif has directed the live telecast of Pakistan International Airlines Company Limited's (PIA) privatisation, including, bidding and other important processes. The process of privatising other institutions will also be broadcast live.

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In the review meeting chaired by PM Sharif, it was informed that the pre-qualification process for PIA privatization is to be completed by the end of this month. As per the report, loss-making state-owned enterprises will be privatised on a priority basis. A pre-qualified panel of experts is being appointed in the Privatization Commission to speed up the privatisation process.

The review meeting was attended by federal ministers Khawaja Asif, Muhammad Aurangzeb, Jam Kamal Khan, Awais Ahmed Leghari, Abdul Aleem Khan, Musaddik Malik and Ahad Khan Cheema, PM's Coordinator Rana Ehsan Afzal, and other senior officers.

Earlier, on Friday, the Cabinet Committee on Privatisation (CCOP) had approved 24 state-owned enterprises for the privatisation programme and directed the privatisation ministry to deliberate the phasing of each entity in consultation with the respective ministries.

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