Prime Minister Shahbaz Sharif was apprised on Tuesday that the pre-qualification process for the privatization of Pakistan International Airlines (PIA) would be completed by May.
An important review meeting regarding the affairs of the Ministry of Privatization and the Privatization Commission was held on Tuesday. The roadmap of the Privatization Program 2024-2029 was presented by the Ministry of Privatization and the Privatization Commission during the meeting.
At the beginning of the meeting, the Prime Minister made it clear to the participants that all state-owned enterprises except strategic ones would be privatized.
He stated that apart from strategic state-owned enterprises, all other state-owned enterprises, whether profitable or loss-making, would be privatized. In this regard, the Prime Minister directed all federal ministries to take necessary action and to cooperate with the Privatization Commission.
He emphasized that the government’s role is not to engage in business but to ensure a business and investment-friendly environment. He highlighted that privatizing government-owned enterprises would save taxpayers’ money, which could then be utilized to enhance the quality of service delivery.
The Prime Minister strongly instructed that transparency should be given top priority in the process of privatization. He directed concerned authorities to telecast live the bidding process of PIA, along with other transactions.
Officials of the Privatization Commission informed the meeting that necessary consultations regarding the privatization of the Roosevelt Hotel are underway.
The Government-to-Government transaction of First Women Bank Limited is being finalized with the United Arab Emirates. The meeting was informed that electricity distribution companies have been included in the privatization program for 2024-2029.
