Prime Minister Shehbaz Sharif has announced that all government-owned enterprises, except for strategic state-owned enterprises, will be privatized. A review meeting was held to discuss the affairs of the Ministry of Privatization and the Privatization Commission, during which the Roadmap of Privatization Program 2029-2024 was presented. The process will be completed by May’s end.
The government is currently in consultations regarding the privatization of the Roosevelt Hotel, and a government-to-government transaction of First Women Bank Limited with the United Arab Emirates is underway. The program 2029-2024 includes the privatization of distribution companies, prioritizing loss-making government-owned enterprises, and appointing a pre-qualified panel of experts in the Privatization Commission to speed up the privatization process.
The Prime Minister announced the privatization of all government-owned enterprises except strategic state-owned ones. All other state-owned enterprises, whether profitable or loss-making, have already been privatized. Shahbaz Sharif has directed all federal ministries to cooperate with the Privatization Commission, which will provide the necessary facilities to save taxpayers money.
The privatization of government-owned institutions will help improve the quality of service delivery, and transparency will be given priority in the process. Regarding the privatization of Pakistan International Airlines Company Limited, Shehbaz Sharif directed to broadcast live telecasts of important stages, including bidding, and said that the stages of other institutions’ privatization processes will also be telecasted live.
