Prime Minister Shehbaz Pushes Forward with SOE Privatization Agenda

News Desk

Islamabad: Prime Minister Shehbaz Sharif has directed the Privatisation Commission to proceed with the privatization of all state-owned enterprises (SOEs), except for strategic ones, irrespective of their profitability or financial losses.

Chairing a high-level meeting to discuss matters concerning the Ministry of Privatisation and Privatisation Commission, the prime minister instructed all federal ministries to cooperate with the Privatisation Commission in carrying out necessary procedures.

During the meeting, the Privatisation Ministry and the Commission presented a roadmap for the Privatisation Program 2024-29.

The prime minister emphasized that the government’s role is not to run businesses but to facilitate investors. He highlighted that privatizing SOEs would save taxpayers’ money, enabling the government to provide better services to the people.

In line with the commitment to transparency, the prime minister instructed for the live telecast of bidding and other procedures related to the privatization of Pakistan International Airlines (PIA) and other entities.

Progress on the privatization of SOEs was discussed during the briefing. It was mentioned that the pre-qualification process for PIA privatization would conclude by the end of the month.

Consultations for the privatization of Roosevelt Hotel were ongoing, and a government-to-government transaction for the First Women Bank with the United Arab Emirates was in progress.

Additionally, power distribution companies have been included in the 2024-29 Privatisation Program, with a focus on prioritizing the privatization of loss-making SOEs.

During the meeting, it was announced that the Planning Commission would establish a pre-qualified panel of experts to ensure a rapid and transparent privatization process.

Federal ministers Khawaja Asif, Muhammad Aurangzeb, Jam Kamal Khan, Awais Ahmed Leghari, Abdul Aleem Khan, Dr Musaddik Malik, and Ahad Khan Cheema, along with PM’s Coordinator Rana Ehsan Afzal and other relevant senior officials, were in attendance.