PM Shehbaz okays privatization of all state-owned enterprises

Ministry of Privatization and Privatization Commission presented the roadmap of the Privatization Program 2024-2029.

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif announced his government’s decision to privatize all government-owned enterprises except “strategically important” state-owned enterprises, state-run Radio Pakistan reported.

Chairing a review meeting on matters related to the Ministry of Privatization and Privatization Commission in Islamabad today, He said apart from strategic state-owned enterprises, all other enterprises, whether profitable or loss-making, will be privatized.

On Monday, the Federal Minister for Finance & Revenue, Senator Muhammad Aurangzeb presided over a meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs).

The Chairman Cabinet Committee on SOEs Muhammad Aurangzeb directed the concerned Ministries/Divisions to submit proposals for the categorization of their respective SOEs by May 20th, PID press release said.

The Prime Minister directed all federal ministries to take necessary action in this regard and cooperate with the Privatization Commission. The Prime Minister directed to ensure transparency in the privatization process.

PM Shehbaz said the government’s job is not to do business but to ensure a business and investment-friendly environment. He directed to televise live Pakistan International Airlines Company Limited’s privatization including bidding and other important steps. The process of privatization of other institutions will also be broadcast live.

On this occasion, the Ministry of Privatization and Privatization Commission presented the roadmap of the Privatization Program 2024-2029.

The meeting was informed about the progress made so far for the privatization of state-owned enterprises. It was informed that the pre-qualification process for PIA privatization is to be completed by the end of this month.

Prime Minister Shehbaz Sharif was informed that the privatization of Power Distribution Companies has been included in the privatization program 2024-2029, Radio Pakistan said. “It was informed that loss-making state-owned enterprises are to be privatized on a priority basis and that a pre-qualified panel of experts is being appointed by the Privatization Commission to speed up the privatization process.”