ISLAMABAD: Pakistan’s Prime Minister Muhammad Shehbaz Sharif on Thursday emphasized the acceleration of the privatization process for State-Owned Enterprises (SOEs) that continuously draining the national exchequer, aiming to stabilize the economy and alleviate the common man’s burdens.
“Obstacles in the process of privatization be removed as soon as possible so that the country and the nation can get rid of losses of billions of rupees and enhance the country’s economic condition,” said the Prime Minister while chairing a high-level meeting on privatization.
Furthermore, he directed immediate actions to bolster the capacity of departments involved in privatization and called for a detailed report outlining actions, goals, and a specific timeframe.
Sharif also instructed the Privatization Commission and Ministry to promptly present pending privatization issues to the cabinet for timely decisions, stressing the elimination of delays.
Regarding proposals to transfer power distribution companies to provinces, he ordered the formation of a review committee to submit recommendations.
Emphasizing the Privatization Commission and the Ministry’s responsibility, he urged the elimination of bottlenecks and ensured transparency and adherence to international standards in the privatization process.
Highlighting the burden of loss-making institutions on the nation, Sharif urged sincere efforts to eliminate them and prioritize quality, transparency, and national interests.
The meeting discussed the progress and obstacles in privatizing institutions like Pakistan International Airlines, House Building Finance Corporation, and others. The legal team’s effectiveness in addressing court stay orders delaying privatization was emphasized.
