Finance Minister Muhammad Aurangzeb emphasized the need for privatization, stating that there is no such thing as strategic state-owned enterprises (SOEs). During a pre-budget conference in Lahore, he echoed Deputy Prime Minister Ishaq Dar’s sentiments about limiting government business to strategic and essential SOEs.
The Cabinet Committee on Privatization (CCoP) discussed the priority of privatizing loss-making SOEs and reducing the number of categorized strategic or essential SOEs from 40 after scrutiny. Aurangzeb reiterated the stance that all state-owned enterprises should be handed over to the private sector, encouraging public-private partnerships.
Addressing concerns about the privatization of Pakistan International Airlines (PIA), Aurangzeb clarified that both local and foreign investors are being considered, not just foreign investors. He also highlighted the importance of a larger and longer IMF program for macroeconomic stability and structural reforms.
Furthermore, Aurangzeb touched on energy reforms, emphasizing the need to address leakages and theft in the system. He mentioned bringing private sector professionals on the boards of distribution companies for better corporate governance, paving the way for potential concessions or privatization.
For more updates on Pakistan’s economic reforms and privatization agenda, stay tuned for the upcoming meetings and decisions.