PM Shehbaz Announces Comprehensive Privatization Plan for Government-Owned Enterprises

Prime Minister Shehbaz Sharif revealed a comprehensive privatization strategy for government-owned enterprises during a meeting of the Ministry of Privatization and Privatisation Commission. Under his leadership, the Ministry of Privatisation outlined the roadmap for the 2024-2029 privatization program.

Shehbaz Sharif emphasized the privatization of all government-owned enterprises, excluding strategic state-owned entities. Regardless of profitability, all state-owned enterprises will undergo privatization, as directed by the Prime Minister.

Highlighting the government’s role in fostering a business-friendly environment and facilitating investment, Sharif underscored the importance of transparency in the privatization process. He asserted that privatization would enhance service quality and fiscal efficiency, ultimately benefiting taxpayers.

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 privatisation of SOEs would save the taxpayers’ money to help the government provide quality services to the people.

“Government’s job is not to do business but to ensure a business and investment friendly environment,” the premier said.

He directed to live telecast Pakistan International Airlines Company Limited’s (PIA) privatisation including bidding and other important steps. The process of privatisation of other institutions will also be broadcast live.

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 told that privatisation of power distribution companies has been included in privatization program 2024-2029.

The Prime Minister instructed federal ministries to collaborate closely with the Privatisation Commission to expedite the privatization efforts.