In a significant policy shift, Pakistan’s Prime Minister, Shehbaz Sharif, has announced the privatisation of all state-owned enterprises (SOEs) except those deemed strategically important. This move, taken during a review meeting on privatisation matters, aims to improve the quality of public services and reduce the government’s financial burden. The decision is part of the Privatisation Program 2024-29 roadmap, which includes the privatisation of power distribution companies.
As per Prime Minister Sharif’s directive, all federal ministries are tasked with collaborating with the Privatisation Commission to ensure the smooth implementation of this program. The government’s primary focus will now be on creating a business-friendly environment rather than engaging in direct business operations.
To ensure transparency and accountability, the government has decided to televise the privatisation process of Pakistan International Airlines Company Limited (PIA) live, including the bidding and other crucial stages. The privatisation of other institutions will also be broadcast live.
The review meeting, chaired by Prime Minister Sharif, was informed that the pre-qualification process for PIA’s privatisation is expected to be completed by the end of the current month. Loss-making SOEs will be prioritised for privatisation. To expedite the process, a pre-qualified panel of experts will be appointed to 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 officials, attended the review meeting.
Earlier, the Cabinet Committee on Privatisation (CCOP) had approved 24 SOEs for the privatisation program and instructed the privatisation ministry to determine the phasing of each entity in consultation with the relevant ministries.
This bold initiative by the Pakistan government is expected to have a significant impact on the country’s economy and service delivery. By harnessing the efficiency of the private sector, the government aims to improve the lives of its citizens and reduce its own financial burden. The live telecast of key privatisation processes demonstrates the government’s commitment to transparency and accountability.
