In the first phase, ten institutions will be privatised within the next 12 months. These include Pakistan International Airlines (PIA), the Roosevelt Hotel in the United States, and three power distribution companies (DISCOs), including Islamabad Electric Supply Company (IESCO).
The Agricultural Development Bank is also part of the first phase. This shows the Govt’s focus on key sectors such as aviation, energy, and finance.
Phase 1: Completion Within One Year
The following organisations are part of this phase:
- PIA
- Roosevelt Hotel (USA)
- Agricultural Development Bank
- Three DISCOs (including IESCO)
Phase 2: To Be Completed in 1–3 Years
The second phase includes 13 institutions. These are expected to be privatised in the next one to three years.
This phase will cover:
- State Life Insurance Corporation
- Utility Stores Corporation
- Four generation companies (GENCOs)
- Six more DISCOs, including Lahore Electric Supply Company (LESCO)
Phase 3: Final Stage in 3–5 Years
Only one institution is listed for the third and final phase — the Postal Life Insurance Company. The Govt aims to complete this final step within three to five years.
The Privatisation Commission will lead the process. It will coordinate with relevant ministries and regulatory bodies.
During the same session, Speaker of the National Assembly Sardar Ayaz Sadiq criticised the Ministry of Planning and Ministry of Finance. He expressed concern over their failure to respond to members’ questions.
The Speaker warned of serious consequences if ministries continued to avoid accountability. He rejected requests for more time and demanded the presence of key officials in Parliament.
The Govt maintains that this plan will improve efficiency and reduce financial burdens on the public sector.
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