Prime Minister Shehbaz Sharif announces privatization of state-owned enterprises except for strategically important entities
During a review meeting in Islamabad, Prime Minister Shehbaz Sharif stated that all state-owned enterprises, with the exception of strategically important entities, will be privatized. The Privatization Ministry and the Privatization Commission presented a roadmap for the Privatization Program 2024-29, highlighting the government’s focus on facilitating investors rather than running businesses.
PM Sharif directed federal ministries to cooperate with the Privatization Commission and announced the live telecast of important steps in the privatization process, starting with Pakistan International Airlines Company Limited (PIA). The meeting also discussed the inclusion of power distribution companies in the privatization program and prioritizing the privatization of loss-making state-owned enterprises.
With approvals from the Cabinet Committee on Privatization, the government aims to streamline the privatization process and fill governance gaps in SOEs. The comprehensive review and categorization of SOEs by May 20 will further drive the privatization agenda.