Prime Minister Shehbaz Sharif on Tuesday reaffirmed that the privatisation of loss-making state-owned enterprises remains a key priority for the government, describing the planned sale of 75 per cent shares of Pakistan International Airlines as the first step in a broader reform agenda.
The prime minister made the remarks while chairing a high-level meeting on the affairs of the Privatisation Commission at the Prime Minister’s House. He directed authorities to further speed up reforms within the Commission to ensure efficiency, transparency and credibility in the privatisation process.
During the meeting, participants were informed that the privatisation of electricity distribution companies will be carried out in two initial phases. In the first phase, Islamabad Electric Supply Company, Gujranwala Electric Power Company and Faisalabad Electric Supply Company will be privatised. In the second phase, the privatisation process will extend to Hyderabad Electric Supply Company and Sukkur Electric Power Company.
The prime minister stressed the need to strengthen the Privatisation Commission by inducting top talent from the private sector and the open market. He instructed that all appointments must be made through a fully transparent process.
Highlighting the importance of modern governance, he also directed the complete digitisation of the Privatisation Commission. He further ordered that all privatisation transactions be subject to third-party audits conducted by internationally recognised firms.
Shehbaz Sharif also called for a major improvement in the Commission’s public relations and marketing functions to ensure clear and effective communication with investors and other stakeholders.
The meeting was briefed on ongoing reform measures within the Privatisation Commission. Participants said advisers from the private sector would be hired in key areas, including finance, human resources, legal affairs, information technology and media management, to support the reform drive.