Monday, 15 July 2024, 04:14:34 am

PM announces privatization of all govt-owned enterprises, except strategic SOEs
May 14, 2024

Prime Minister Shehbaz Sharif has announced to privatize all government-owned enterprises with the exception of strategically important state-owned enterprises.

Chairing a review meeting on matters related to Ministry of Privatization and Privatization Commission in Islamabad today, He said apart from strategic state-owned enterprises, all other enterprises, whether profitable or loss-making, will be privatized. 

The Prime Minister directed all federal ministries to take necessary action in this regard and cooperate with the Privatization Commission.

Shehbaz Sharif said the government's job is not to do business but to ensure a business and investment friendly environment.

The Prime Minister directed to ensure transparency in privatization process.

He directed to televise live Pakistan International Airlines Company Limited's privatization including bidding and other important steps. The process of privatization of other institutions will also be broadcast live.

On the occasion, roadmap of Privatization Program 2024-2029 was presented by Ministry of Privatization and Privatization Commission.

The meeting was informed about the progress made so far for the privatization of state owned enterprises. It was informed that pre-qualification process for PIA privatization to be completed by the end of this month.

The meeting was informed that privatization of Power Distribution Companies has been included in privatization program 2024-2029.

It was informed that loss-making state-owned enterprises to be privatized on priority basis and that a pre-qualified panel of experts is being appointed in Privatization Commission to speed up privatization process.