Govt completes winding-up, privatization of major SOEs

The government has made significant progress in its reform agenda for state-owned enterprises (SOEs), completed the winding-up or privatization of several key entities over the past six months.

Utility Stores, PASSCO, Pakistan International Airlines (PIA), and First Women Bank have all been marked as completed under the reform drive, which  signaled a decisive move to reduce fiscal pressures on the national exchequer.

According to a post shared by Khurram Schehzad on his X account, the completion of these actions represents a major milestone, particularly as Utility Stores, PASSCO, and PIA were among the largest SOEs with substantial loss-making footprints and long-standing fiscal burdens on the government.

The reforms are also aligned with broader structural adjustment efforts aimed at stabilizing the economy.

The government has indicated that additional SOEs are in the pipeline for restructuring, privatization, or winding-up, in the near future as the reform momentum continues.