All state-owned entities to be privatized except strategic, says PM Shehbaz

Prime Minister Shehbaz Sharif made it clear on Tuesday that all state-owned entities would be privatized barring those which were strategic, reported 24NewsHD TV channel.

Chairing an important meeting held at the Prime Minister’s House in Islamabad to review matters related to the Ministry of Privatization and the Privatization Commission, the prime minister said all such entities would be privatized; whether they are profitable or loss-making.

The Ministry of Privatization and the Privatization Commission officials, on the occasion, presented the roadmap of the Privatization Programme, 2024-2029.

PM Shehbaz said the government’s job was not to do business but to create an investment-friendly environment. He directed all federal ministries to cooperate with the commission.

The prime minister said the privatization would save the taxpayers’ money and help the government provide the best services. “Ensuring that the whole process remains transparent is a top priority for the government.”

He also directed that bidding and other important stages in the privatization of Pakistan International Airlines Company Limited be shown on television live. “Similarly, there should also be a live broadcast of stages in the privatization of other entities,” he directed.

The meeting was briefed in detail about the progress made so far on the privatization of government-owned organizations.

It was informed that consultations were underway for the privatization of the Roosevelt Hotel in the USA.

It was told that the First Women’s Bank Limited was having a government-to-government transaction with the United Arab Emirates.

Similarly, the meeting was informed that the sale of power distribution companies had also been included in the Privatization Programme, and that the privatization of loss-making entities would be a priority.  

Reporter: Awais Kiani