Government Plans to Shut Down State-Owned Entities
The federal government in Pakistan is moving forward with plans to right-size its operations by shutting down various state-owned entities. Recommendations have been prepared to privatize or close down several departments, including the Utility Stores Corporation and the Karachi Tools, Dyes, and Moulds Centre. Additionally, proposals have been made to shut down the National Productivity Organization, Pakistan Industrial Technical Assistance Centre, and the Technology Upgradation and Skill Development Company.
Furthermore, the government has approved the privatization of two departments under the Petroleum Division, namely the Pakistan Mineral Development Corporation and the Saindak Metals Limited. As part of these privatization plans, ENAR Petrotech Services Pvt Ltd will be dissolved. However, decisions are still pending on the fate of other departments like the Pakistan State Oil, Pak-Arab Refinery Limited, and the Sui Gas Companies.
The process is already in motion, with the bidding for the privatization of Pakistan International Airlines set to take place on October 1st. Stay tuned for more updates on the government’s efforts to streamline state-owned entities.