ISLAMABAD – The federal government has decided to privatize 24 state-owned enterprises in three phases, with 10 entities expected to be sold off within the first year.
This was announced during a session of the National Assembly, where Federal Minister for Privatisation Abdul Aleem Khan presented the official list of enterprises approved for privatisation.
According to the minister, the list was prepared last year and includes a wide range of institutions. The plan divides the process into three stages:
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First phase: 10 entities will be privatized within one year.
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Second phase: 13 more institutions are to be privatized within the next three years.
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Third phase: Postal Life Insurance Company will be privatized within five years.
The first phase includes the privatization of the Islamabad Electric Supply Company (IESCO) and two other distribution companies (DISCOs), along with Pakistan International Airlines (PIA), the Roosevelt Hotel, and Zarai Taraqiati Bank Limited (ZTBL).
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Other entities in the first round include First Women Bank, House Building Finance Corporation, State Life Insurance Corporation, Utility Stores Corporation, and four power generation companies (GENCOs).
In the second phase, the plan includes privatizing six more DISCOs, including the Lahore Electric Supply Company (LESCO).
