Govt Removes 14 Companies from Its Privatization List

According to an official press release, the government has removed 14 State-Owned Enterprises (SOEs), including Pakistan International Airlines, Pakistan Railways, and Pakistan Steels Mills from the list of companies to be privatized.

It was stated that other SOEs which were removed from the list of privatization included;

  • National Bank of Pakistan,
  • Pakistan State Oil Company,
  • Sui Northern Gas Pipeline,
  • Sui Southern Gas Pipeline,
  • Civil Aviation Authority,
  • National Highway Authority,
  • National Logistic Company,
  • Trading Corporation of Pakistan,
  • Printing Corporation of Pakistan,
  • Utility Stores,
  • Industrial Development Bank.

The meeting of the committee was held under the chairmanship of Senator Mir Muhammad Yousuf Badini.

The committee was also informed that the government wants to privatize eight SOEs on a priority which include;

  • SME Bank,
  • First Women Bank,
  • Haveli Bahadur Power Plant,
  • Parri Petroleum,
  • Lakhra Coal Mines,
  • Services International Hotel Lahore,
  • Jinnah Convention Center Islamabad.

The committee was told that the government would privatize the SOEs after putting them in profit so that the government can get a reasonable rate.

Minister for Privatization Mian Muhammad Soomro said that there was a threat of building circular debts on the SOEs so they would be privatized on priority.

Senator Farooq H Naik said the First Women Bank should not be privatized as it was a symbol of support to women from the government.

The meeting was also briefed in detail about the process of privatization of K Electric.

The meeting was attended by Senators Farooq H Naik, Rubina Khalid, Abida Muhammad Azeem, Secretary Privatization Commission Rizwan Malik, and other officials.