In a significant move, Pakistan’s Prime Minister Shehbaz Sharif has declared the privatisation of all state-owned enterprises, excluding those deemed strategically vital, according to a report by ARY News. The decision was made during a review meeting in Islamabad focused on matters related to the Ministry of Privatization and Privatization Commission.
The newly announced Privatisation Program 2024-29 encompasses the privatisation of power distribution companies, among other entities. PM Sharif emphasized the importance of this initiative in terms of saving taxpayers’ money and enhancing the government’s ability to deliver quality services to the public. He underscored that the government’s role is to foster a business-friendly environment rather than engage in business activities.
Notably, the privatisation process will be transparent and accessible to the public, with PM Sharif directing the live telecast of the privatisation proceedings for Pakistan International Airlines Company Limited (PIA) and other institutions. This includes broadcasting bidding processes and other critical stages of privatisation.
During the review meeting, it was disclosed that the pre-qualification process for PIA’s privatisation is set to conclude by the end of the current month. Loss-making state-owned enterprises will be prioritised for privatisation, with a dedicated panel of experts appointed within the Privatization Commission to expedite the process.
The meeting, chaired by PM Sharif, was attended by several federal ministers and senior officers. Earlier, the Cabinet Committee on Privatisation (CCOP) approved 24 state-owned enterprises for the privatisation programme, with the Privatisation Ministry directed to devise the phasing of each entity in collaboration with relevant ministries.
Sources By Agencies
