Govt prioritizes privatization of loss making SOEs
The government has prioritized the privatization of loss-making state-owned enterprises as a key part of its economic reform agenda, with the privatization of Pakistan International Airlines (PIA) identified as the first major step.
Prime Minister Muhammad Shehbaz Sharif stated this while chairing a meeting in Islamabad on matters related to the Privatization Commission. He said the successful privatization of 75% shares of PIA would set the direction for future reforms, according to Radio Pakistan.
The Prime Minister directed concerned officials to accelerate the reform process and work on the digitization of the Privatization Commission.
He emphasized that skilled manpower from the private sector and market should be hired on merit and through a fully transparent process.
He also ordered a third-party audit of the Privatization Commission’s projects by an international-standard firm and directed further strengthening of the Commission’s public relations and marketing departments.
The meeting was informed that the privatization of power distribution companies will be carried out in two phases.
In the first phase, Islamabad Electric Supply Company, Gujranwala Electric Power Company, and Faisalabad Electric Power Company will be privatized, while Hyderabad Electric Supply Company and Sukkur Electric Power Company will be privatized in the second phase.
