The Ministry of Privatisation has prepared a list for the privatization of various institutions, approved by the federal cabinet. The first phase includes 10 institutions to be privatized within a year, such as PIA, Roosevelt Hotel in New York, and various other banks and corporations.
The second phase will cover the privatization of 13 institutions including Utility Stores Corporation and power distribution companies like LESCO and MEPCO. Power generation companies and insurance companies are also listed for privatization in this phase.
The third phase will focus on privatizing one institution. Finance Minister Muhammad Aurangzeb has reaffirmed the government’s commitment to privatize PIA and three power distribution companies by the end of 2024. The plan aims to boost efficiency and competitiveness in these sectors through privatization.
Stay tuned for more updates on the privatization process!