Government of Pakistan Approves 5-Year Privatisation Program
The Pakistan government has given the green light to a 5-year privatisation program, as announced in a recent federal cabinet meeting in Islamabad. The program will be carried out in three phases, with the initial phase focusing on entities such as Pakistan International Airlines (PIA) and various electric supply companies.
In the subsequent phases, more organizations including Utility Stores Corporation and State Life Insurance Corporation will be privatised. The government has also indicated that additional institutions may be added to the program after further evaluation.
Earlier, the federal cabinet approved the privatisation of 13 entities under the Power Division, with power distribution companies and power generation companies included in the list. Notably, Quetta Electric Supply Company and Tribal Electric Supply Company were excluded from the privatisation plan.
Overall, the decision marks a significant step towards restructuring and improving the efficiency of state-owned enterprises in Pakistan.
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