*Islamabad* – The federal government of Pakistan has announced acomprehensive plan to privatize 24 state-owned enterprises (SOEs) in threephases, as disclosed by Federal Minister for Privatization, Abdul AleemKhan, during a session of the National Assembly.
Presenting the details before the assembly, Abdul Aleem Khan outlined thatthe privatization process will span several years, with 10 entitiesscheduled for privatization in the first year. The next 13 institutionswill follow over the subsequent one to three years, while the finalentity’s privatization will be carried out in the last phase, expected totake between three to five years.
According to the official submission to the National Assembly, the firstphase will include the privatization of the national airline (PIA),Roosevelt Hotel, and the Zarai Taraqiati Bank (ZTBL). Additionally, threeelectricity distribution companies (DISCOs), including Islamabad ElectricSupply Company (IESCO), will also be privatized in the initial phase.
In the second phase, the government aims to privatize the Utility StoresCorporation and four generation companies (GENCOs). Furthermore, six moreDISCOs, including Lahore Electric Supply Company (LESCO), will be includedin this phase.
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The ambitious privatization agenda is part of the government’s broaderstrategy to reduce the financial burden of loss-making state institutionsand improve overall economic efficiency. The announcement comes amidgrowing pressure for economic reforms and restructuring in collaborationwith international financial institutions.