Islamabad:
Prime Minister Shahbaz Sharif has said that privatization of national institutions working in deficit is necessary for the betterment of the country’s economy, the privatization commission will be given full sovereignty, I will monitor all decisions.
A review meeting was held under the chairmanship of Prime Minister Muhammad Shahbaz Sharif on the progress of privatization of state -approved institutions (SOE).
The Prime Minister said that privatization of national institutions in deficit is necessary for the improvement and development of the domestic economy. This is to complete the government’s effectively, widely and effectively, fulfill transparency in the privatization of all legal stages and elected institutions.
The Prime Minister directed that all possible precaution should be kept in view of the land owned by national institutions at the stage of privatization, the goals of phased privatization of the above institutions should be determined according to the economic environment of the market to protect the national treasury from possible damage.
He said that the privatization Commission would be given complete sovereignty as per law to eliminate red lace and unnecessary elements at the stage of privatization, ensure complete and effective implementation of all decisions, regularly monitor the progress of the ongoing work in the privatization Commission.
The Prime Minister said that the consultation and international standards of professional experts should be maintained in the restrictions of privatization and reconstruction of institutions.
In 2024, the Prime Minister was informed on progress on the privatization of institutions included in the privatization list. They were informed that the Privatization Commission would be completed in a scheduled time under phased privatization of selected institutions, keeping in mind the legal, financial and departmental requirements in the phased privatization of elected institutions.
The privatization of all the institutions included in the privatization list including PIA, Power Delivery Companies (DISCO) will be completed according to certain economic, institutional and administrative goals.
The meeting was attended by Federal Shakti Division Minister Sardar Ovis Khan Lagari, Federal Economic Affairs Minister Ahad Khan Cheema, Chairman Privatization Commission Muhammad Ali, Minister of State for Finance and Railway Bilal Azhar Kayani and other relevant government officials and senior officials.
