Pakistan PM Shehbaz Sharif has announced the privatisation of all state-owned enterprises, excluding those deemed strategically important, as reported by ARY News. The decision was made during a review meeting chaired by Sharif in Islamabad, focusing on matters concerning the Ministry of Privatisation and Privatisation Commission.

During the meeting, a roadmap for the Privatisation Program 2024-29 was presented, which includes the privatisation of power distribution companies. Sharif has instructed all federal ministries to take necessary action in this regard and to cooperate with the Privatization Commission.

Sharif contends that the privatisation of state-owned enterprises will save taxpayers' money and enable the government to deliver quality services to the people.

According to ARY News, Pakistan's PM stated that the government's role is to facilitate a business and investment-friendly environment rather than engage in business activities. Sharif has instructed the live telecast of Pakistan International Airlines Company Limited's (PIA) privatisation proceedings, including bidding and other significant processes. The privatisation processes of other institutions will also be broadcast live.

During the review meeting chaired by PM Sharif, it was disclosed that the pre-qualification process for the privatisation of PIA is expected to conclude by the end of this month. The meeting also revealed that loss-making state-owned enterprises will be prioritized for privatization. To expedite the privatisation process, a pre-qualified panel of experts is being appointed in the Privatisation Commission.

Federal ministers Khawaja Asif, Muhammad Aurangzeb, Jam Kamal Khan, Awais Ahmed Leghari, Abdul Aleem Khan, Musaddik Malik, and Ahad Khan Cheema, along with PM's Coordinator Rana Ehsan Afzal and other senior officers, attended the review meeting.

Earlier, on Friday, the Cabinet Committee on Privatisation (CCOP) had sanctioned 24 state-owned enterprises for the privatization programme and instructed the privatization ministry to discuss the phasing of each entity in consultation with the respective ministries.

Image source: The Hindu