[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]Prime Minister Muhammad Shahbaz Sharif presided over a meeting to assess the operations of the Ministry of Privatization and the Privatization Commission, where the Roadmap of Privatization Program 2024-2029 was presented.
During the session, it was revealed that the pre-qualification process for the privatization of Pakistan International Airlines (PIA) would conclude by the end of May. Additionally, discussions regarding the sale of the Roosevelt Hotel are ongoing.
Read more: PIA Leaves 6-Year-Olds Deceased Body in Islamabad
In a move towards transparency, the Prime Minister mandated that the privatization proceedings, including the bidding process for PIA, be broadcasted live. This transparency initiative will extend to all stages of privatizing other entities.
The privatization plan for 2024-2029 encompasses electricity distribution companies (DISCOs), and negotiations with the United Arab Emirates are underway for the divestment of First Women Bank Limited.
Meeting attendees concurred on prioritizing the privatization of financially struggling enterprises to boost efficiency and alleviate fiscal pressures. To facilitate this, a panel of pre-approved experts will assist the Privatization Commission to expedite the process.
Prime Minister Sharif affirmed that all state-owned enterprises, with the exception of strategic entities, would be privatized, irrespective of their profitability. He stressed the government’s role in fostering a business-friendly environment rather than directly engaging in business operations.
Sharif underscored the advantages of privatizing these enterprises, emphasizing cost savings for taxpayers and enhancements in public service quality. He urged all federal ministries to cooperate with the Privatization Commission to streamline the process.
The meeting was attended by key ministers and senior government officials, including Defense Minister Khawaja Asif and Finance Minister Muhammad Aurangzeb.[/vc_column_text][/vc_column][/vc_row]
