Prime Minister Shehbaz Sharif has stated that the privatization of state-owned enterprises is a key component of the government’s broader economic reform vision.
According to the official statement issued after the federal cabinet meeting chaired by the Prime Minister, Shehbaz Sharif congratulated cabinet members on the New Year and expressed satisfaction over the successful privatization of 75 percent shares of Pakistan International Airlines (PIA).
The Prime Minister said that upon assuming office, the government pledged to privatize loss-making state-owned institutions, and the privatization of PIA marks a major milestone toward economic stabilization.
He added that the significant increase in the country’s GDP during the first quarter of the current fiscal year is encouraging, noting that Pakistan has been steered away from the brink of default toward economic stability.
Shehbaz Sharif also described his recent meeting with the President of the United Arab Emirates as productive and highlighted his recent telephone conversation with the Saudi Crown Prince, expressing satisfaction over the growing pace of economic and strategic cooperation between the two countries.
The cabinet approved decisions taken by the CCLC and ECC, including measures to provide relief to consumers regarding levies on off-grid captive power plants. Approval was also granted for the issuance of a presidential ordinance to allow third-party gas sales to off-grid captive power plants.
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