Prime Minister Shehbaz Sharif has announced the decision to privatize all state-owned enterprises, with the exception of strategically important entities. This announcement came during a review meeting in Islamabad, where the Prime Minister emphasized that all enterprises, whether profitable or loss-making, will be privatized, excluding strategic state-owned enterprises.
What’s the impact of privatization?
During the meeting, the Ministry of Privatization and Privatization Commission presented a roadmap for the Privatization Program 2024-29. Prime Minister Shehbaz Sharif stressed that the government’s role is to facilitate investors rather than run businesses.
He highlighted that the privatization of state-owned enterprises would lead to cost savings for taxpayers and enable the government to deliver quality services to the people. Furthermore, the Prime Minister directed all federal ministries to cooperate with the Privatization Commission and take necessary actions.
Notably, the privatization process of Pakistan International Airlines Company Limited (PIA) will be live telecasted, including bidding and other important steps. The progress made in the privatization of state-owned enterprises, such as power distribution companies, was also discussed during the meeting.
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It was revealed that the pre-qualification process for PIA privatization is set to be completed by the end of May. Moreover, the privatization of loss-making state-owned enterprises has been prioritized, with the appointment of a panel of experts to expedite the privatization process.
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