Mon, 17 Jun 2024
( 11 Dhul Hijjah 1445 )

PM announces privatization of govt-owned enterprises

14 May, 2024 10:45

Prime Minister Shehbaz Sharif has announced the privatization of all government-owned enterprises except strategic state-owned enterprises.

Addressing the privatization commission meeting, Shehbaz  said that except for strategic state-owned enterprises, all other state-owned enterprises, whether they are profitable or loss-making, will be privatized.

He directed the officials that all federal ministries should take necessary action in this regard and cooperate with the privatization commission.

The prime minister said that the government’s job is not to do business but to ensure a business and investment friendly environment and to provide facilities and facilities in this regard.

Shehbaz Sharif said that the privatization of government-owned enterprises will save taxpayers’ money and the same money will help in improving the quality of service delivery. Transparency should be given top priority in the process of privatization, he added.

The prime minister directed to telecast live of Pakistan International Airlines Company Limited privatization including bidding and other important steps.

During the meeting, the prime minister was told in a briefing that the pre-qualification process regarding the privatization of PIA will be completed by the end of May. The privatization of electricity distribution companies has been included in the program 2024-2029, while the deficit affected government owned enterprises will be privatized on priority basis.

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