ISLAMABAD – A meeting of the Senate Standing Committee on Privatization was held under the Chairmanship of Senator Afnan Ullah Khan to consider The Privatization Commission (Amendment) Bill, 2025 and to review the current developments regarding the privatization of Pakistan International Airlines Corporation Limited (PIACL) and Distribution Companies (DISCOs). The meeting was attended by Senator Bilal Ahmed Khan, Senator Khalil Tahir, Senator Umer Farooq and Senator Palwasha Mohammed Zai Khan, while Senator Saleem Mandviwala attended the meeting as a special invitee.
The Committee reviewed the implementation status of its earlier recommendations. During the briefing by the Power Division, the Committee was informed that Gudu and Nandipur power plants are ready for privatization. Regarding the latest developments in the privatization of DISCOs, it was stated that the old GENCOs have either been sold as scrap due to obsolete machinery or are being operated under a Government-to-Government (G2G) model. The Chairman questioned whether the DISCOs had been offered to the provinces. It was informed that the provinces were offered the DISCOs; however, after their refusal to take over, the Federal Government is considering their privatization. The Committee expressed concern over the profitability of DISCOs under private management. The Committee was informed that most of the preparatory work for the privatization of DISCOs has been completed and that the privatization process will be initiated after obtaining necessary approvals, in accordance with due process.
The Standing Committee considered The Privatization Commission (Amendment) Bill, 2025 referred to it by the House. The Committee was briefed that the proposed amendments are minor in nature and are intended to ensure uniformity and consistency with other laws as well as the directions of the Honourable Supreme Court. The committee deliberated over the draft bill and discussed it in detail.
The Committee was also given a detailed briefing on the status of PIACL privatization. The Secretary, Privatization Commission, informed the Committee that all major impediments which had previously hindered the privatization process of PIACL have been removed. It was further informed that a majority of the funds generated through privatization will be injected into PIACL, which is facing acute financial shortages. The Chairman enquired about the transparency of the bidding process and directed the Privatization Commission to ensure complete transparency. The Committee was also informed that only the core/aviation business of PIACL is being privatized, while properties such as the Roosevelt Hotel and other assets will remain the property of the Government of Pakistan. The Chairman further directed the Privatization Commission to provide a list of all foreign properties of PIACL, along with their addresses and market values, that form part of the privatization process.
The Committee was additionally informed that Pakistan Minerals Development Corporation (PMDC), Saindak Metals Limited (SML) and National Insurance Company Limited (NICL) have been included in the privatization list; however, the process is currently at an initial stage. The Chairman directed that the Committee be briefed again after approval by the Cabinet Committee on Privatization. ends
