Shehbaz Sharif Puts Privatization of Loss-Making State Firms at Top of Government Agenda
Prime Minister Muhammad Shehbaz Sharif on Monday chaired a high-level meeting on the affairs of the Privatization Commission at the Prime Minister’s House, emphasizing that the privatization of loss-making state-owned enterprises (SOEs) is one of the government’s top priorities.
Addressing the meeting, the prime minister said the successful privatization of 75 percent shares of Pakistan International Airlines (PIA) was “the first drop of rain,” signaling the beginning of a broader privatization drive. He directed authorities to accelerate reform efforts within the Privatization Commission.
The prime minister instructed that highly qualified professionals from the private sector and the market be inducted into the commission, stressing that all appointments must be made in a fully transparent manner. He also ordered the digitization of the Privatization Commission and directed that its projects be subjected to third-party audits by internationally reputed firms.
In addition, Prime Minister Shehbaz called for further strengthening the commission’s public relations and marketing departments to improve outreach and communication with stakeholders.
During the meeting, officials briefed participants on the ongoing reforms in the Privatization Commission. The briefing noted that advisors from the market would be hired in the fields of finance, human resources, law, information technology, and media management. Consultants would also be appointed for strategy, policy, transactions, and the power sector.
Officials said the reform framework is based on strategic discipline, strong governance, enhanced institutional capacity, and transparent engagement with stakeholders.
The meeting was further informed that the privatization of power distribution companies (DISCOs) will be carried out in two initial phases. In the first phase, Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO) will be privatized. The second phase will include Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO).
The meeting was attended by Defense Minister Khawaja Asif, Federal Minister for Power Division Sardar Awais Ahmad Khan Leghari, Prime Minister’s Adviser on Privatization and Chairman of the Privatization Commission Muhammad Ali, along with senior government officials.
