Govt decides to privatise all 'state-owned enterprises'

Prime Minister Shehbaz Sharif has announced plans to privatise all state-owned enterprises (SOEs), excluding strategic assets, regardless of their financial performance. 

The premier chaired a review meeting on Tuesday in Islamabad focused on matters concerning the Ministry of Privatisation and the Privatisation Commission. 

This decision stems from discussions with the International Monetary Fund (IMF) aimed at securing a long-term Extended Fund Facility (EFF).

PM announced that the privatisation process of Pakistan International Airlines Company Limited (PIACL), among other entities, will be broadcast live for transparency.

Emphasising the importance of transparency in the privatisation process, PM Shehbaz directed all federal ministries to collaborate closely with the Privatisation Commission.

During the meeting, he underscored the government's role in promoting a conducive economic environment rather than engaging in business.

A comprehensive roadmap outlining the progress of SOE privatisation was presented along with details of the pre-qualification process for PIA privatisation, which will be completed this month.

Furthermore, it was decided to prioritise the privatisation of loss-making companies and to appoint a panel of pre-qualified experts within PC to accelerate the process.

While there are 40 state-owned enterprises (SOEs) currently considered strategically important, government ministries will provide more information about them to the Cabinet Committee on State-Owned Enterprises (CCoSOE) which will then categorise each SOE as essential or strategic.

Earlier, Finance Minister Muhammad Aurangzeb rejected the notion of 'strategic' SOEs, advocating instead for a comprehensive privatisation approach.