Photo: Collected
Pakistani Prime Minister Shehbaz Sharif announced privatization of all the state-owned enterprises except strategically important ones, the country's Ministry of Information and Broadcasting said on Tuesday (14 May).
“Prime Minister Shehbaz Sharif has announced to privatize all government-owned enterprises with the exception of strategically important state-owned enterprises. Chairing a review meeting on matters related to Ministry of Privatization and Privatization Commission in Islamabad today, he said apart from strategic state-owned enterprises, all other enterprises, whether profitable or loss-making, will be privatized,” the statement read.
Sharif directed that the process of privatization, including bidding, be broadcast live, starting with the privatization of Pakistan International Airlines Company Limited, the ministry said.
“On the occasion, roadmap of Privatization Program 2024-2029 was presented by Ministry of Privatization and Privatization Commission … It was informed that loss-making state-owned enterprises to be privatized on priority basis and that a pre-qualified panel of experts is being appointed in Privatization Commission to speed up privatization process,” the ministry said.
Pakistan is currently in talks with the International Monetary Fund on a broader and long-term funding, with which it aims to implement an ambitious reforms program, including the privatization of debt-ridden state-owned enterprises.
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