ISLAMABAD: Prime Minister Shehbaz Sharif expanded the government’s privatization plan, stating that all state-owned enterprises (SOEs) would be made private, except for strategic ones.
This decision followed a review meeting chaired by PM Shehbaz regarding the Ministry of Privatization and Privatization Commission in Islamabad.
Earlier, Pakistan and the International Monetary Fund (IMF) initiated discussions on a new long-term program under the Extended Fund Facility (EFF).
PM Shehbaz emphasized that all enterprises, whether profitable or not, would undergo privatization, with transparency being crucial. He directed federal ministers to collaborate with the Privatization Commission to ensure a transparent process.
Highlighting the government’s role in fostering a business-friendly environment, PM Shehbaz instructed for the Pakistan International Airlines Company Limited’s (PIACL) privatization process to be televised, along with other institutions’ privatization procedures.
During the meeting, the Ministry presented a roadmap for the Privatization Program 2024-2029, detailing progress and outlining plans, including the completion of the pre-qualification process for PIA privatization by month-end.
Efforts to prioritize the privatization of loss-making companies were underscored, with a focus on expediting the process through the appointment of a pre-qualified panel of experts in the Privatization Commission.
Previously, Deputy Prime Minister Ishaq Dar prioritized the privatization of loss-making SOEs during a meeting of the Cabinet Committee on Privatization.
Finance Minister Muhammad Aurangzeb echoed the importance of privatization in ensuring economic stability during the Pre-Budget Conference 2024-25 in Lahore, emphasizing its role in fostering economic stability in the country.
