Government Prioritizes Privatization of Institutions
The federal government is prioritizing the privatization of several institutions, with a plan in place to either privatize or shut down entities if privatization fails. The Ministry of Privatization and Industry has been tasked by the Prime Minister to oversee the process.
Among the institutions identified for privatization are the Pakistan Stone Development Company, Pakistan Automobile Corporation, and the Pakistan Institute of Management. Other entities include the Khadi Crafts Development Company, Agro-Food Processing Company, and more.
The federal cabinet recently approved the privatization of the Pakistan Mineral Development Corporation and Saindak Metals Limited under the Petroleum Division. As part of the process, department ENAR Petrotech Services Pvt Ltd will be dissolved.
The government is yet to decide the fate of other departments such as Pakistan State Oil and Pak-Arab Refinery Limited. Stay tuned for further updates on the privatization efforts.