Pakistan announces privatisation of all state-owned enterprises

Pakistan PM Shehbaz Sharif led a review meeting in Islamabad to discuss issues concerning the Ministry of Privatization and the Privatization Commission.

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Pakistan PM Shehbaz Sharif announced on Tuesday that all state-owned enterprises, except those of strategic importance, will be privatized. During a review meeting in Islamabad on matters related to the Ministry of Privatization and Privatization Commission, Sharif approved a roadmap for the 2024-29 Privatization Program, which includes the privatization of power distribution companies. He instructed all federal ministries to cooperate with the Privatization Commission and take necessary actions. Sharif stated that privatizing these enterprises will save taxpayers’ money and improve the quality of services provided to the public.

“Governments should focus on creating a business and investment-friendly environment rather than engaging in business activities,” said Pakistan’s PM, as reported by news agency ANI citing ARY News.

Sharif has ordered the live broadcast of Pakistan International Airlines Company Limited’s (PIA) privatization, including the bidding and other key processes.

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PM Sharif’s Review Meeting on Privatization Plans

PM Sharif disclosed during the review meeting that they expect to finalize the pre-qualification process for the privatization of Pakistan International Airlines (PIA) by the end of this month. The report highlighted that they will prioritize the privatization of loss-making state-owned enterprises. To expedite the process, they are assembling a pre-qualified panel of experts within the Privatization Commission. The meeting saw the attendance of federal ministers Khawaja Asif, Muhammad Aurangzeb, Jam Kamal Khan, Awais Ahmed Leghari, Abdul Aleem Khan, Musaddik Malik, Ahad Khan Cheema, PM’s Coordinator Rana Ehsan Afzal, and other senior officials.

Earlier, on Friday, the Cabinet Committee on Privatisation (CCOP) approved the inclusion of 24 state-owned enterprises in the privatization program. The committee instructed the privatization ministry to discuss the scheduling of each entity’s privatization with the respective ministries.

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