ISLAMABAD: Prime Minister Shehbaz Sharif, in a high-level meeting on Tuesday, directed the Privatization Commission to move forward with the privatization of all state-owned enterprises (SOEs), excluding strategic ones, irrespective of their profitability or financial losses.
Chairing the meeting to review matters concerning the Ministry of Privatization and Privatization Commission, the Prime Minister instructed all federal ministries to cooperate with the Privatization Commission in necessary procedures.
The meeting witnessed the presentation of a roadmap for the Privatization Program 2024-29 by the Privatization Ministry and the Privatization Commission.
Sharif emphasized that the government’s role isn’t in running businesses but in facilitating investors. He stressed that privatizing SOEs would save taxpayers’ money, enabling the government to offer better services.
Emphasizing transparency, the Prime Minister directed that the bidding and other procedures for the privatization of Pakistan International Airlines and other entities be telecasted live.
Regarding progress in SOEs’ privatization, it was mentioned that the pre-qualification process for PIA would be completed by this month.
Consultation for Roosevelt Hotel’s privatization was underway, and a government-to-government transaction with the UAE for the First Women Bank was in process.
The meeting noted that power distribution companies were included in the 2024-29 Privatization Program, prioritizing the privatization of loss-making SOEs. Additionally, a pre-qualified panel of experts would be appointed at the Planning Commission to ensure a swift and transparent privatization process.
Federal ministers including Khawaja Asif, Muhammad Aurangzeb, Jam Kamal Khan, Awais Ahmed Leghari, Abdul Aleem Khan, Dr Musaddik Malik, Ahad Khan Cheema, and PM’s Coordinator Rana Ehsan Afzal, along with relevant senior officers, attended the meeting.
