ISLAMABAD: PM Shehbaz Sharif on Tuesday (14th May, 2024) announced that the government would privatize all State-Owned Enterprises (SOEs), excluding the strategic ones, regardless of their profitability or financial losses.
The PM, chairing a high-level meeting to review the matters related to the Ministry of Privatization and Privatization Commission, directed all the federal ministries to carry out the necessary procedures and extend their cooperation with the Privatization Commission for the purpose.
In the meeting, the privatization ministry and the Privatization Commission presented a roadmap for the Privatization Programme 2024-29.
The prime minister said the government had nothing to do with running the businesses but was mandated to facilitate the investors.
He viewed that the privatization of SOEs would save the taxpayers’ money to help the government provide quality services to the people.
Reiterating the government’s commitment to a transparent process, the prime minister directed to live telecast the bidding and other procedures of the privatization of Pakistan International Airlines and other entities.
During the briefing on the progress in the SOEs’ privatization, the participants were told that the pre-qualification process for PIA privatization would be completed by the end of this month.
The consultation for privatization of Roosevelt Hotel was underway and the government-to-government transaction of the First Women Bank was in process with the United Arab Emirates.
It was told that the power distribution companies had been included in the 2024-29 Privatization Program and the privatization of loss-making SOEs would be prioritized.
The participants were told that a pre-qualified panel of experts would be appointed at the Planning Commission for a swift and transparent privatization process.
Conspicuous among others at the huddle there were Federal ministers Khawaja Asif, Muhammad Aurangzeb, Jam Kamal Khan, Awais Ahmed Leghari, Abdul Aleem Khan, Dr Musaddik Malik and Ahad Khan Cheema.
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