Wednesday, June 19, 2024

Privatisation plan for 81 entities presented to PM

Pakistan's Ministry of Disinvestment has submitted its comprehensive five-year privatization plan to the Prime Minister, segmenting it into three sections.

The finalized scheme targets 81 federal government entities, divisions, and departments, categorized into distinct groups for privatization, strategic status, or retention due to strategic importance.

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In a forthcoming meeting with the Special Capital Investment Council, the plan will be presented for review. Crucial details obtained by an investigative team shed light on the final blueprint, which proposes the privatization of 20 central government-owned entities and divisions.

Among the entities marked for disinvestment are PIA, Agricultural Development Bank, all four GENCOs, ARHC, PARCO, SNGPL, and FWO. Additionally, banking giants such as HBL and UBL, along with power companies like PESCO, SSGC, and others, are included in the disinvestment list.

Meanwhile, entities labeled as strategic assets encompass vital institutions such as PBC, PTV, and key port authorities like Karachi Port Trust and Gwadar Port Authority. Pakistan State Oil and other essential enterprises are also classified under this category.

The disinvestment process has already commenced for entities listed for privatization.

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