PM Kakar briefed on privatisation process of state-owned enterprises

ISLAMABAD: Caretaker Minister for Privatisation and Inter-Provincial Coordination Fawad Hasan Fawad called on Caretaker Prime Minister Anwaar-ul-Haq Kakar here on Thursday.

The Caretaker Minister for Privatisation and Inter-Provincial Coordination Fawad Hasan Fawad briefed PM Anwaar-ul-Haq Kakar about the privatisation process of the State-Owned Enterprises (SOEs).

PSM removed from privatization list

A few days ago, the caretaker government removed the Pakistan Steel Mills (PSM) from its privatisation list of state-owned entities.

The government has issued a new list of the state-owned entities (SoEs) that will be handed over to the private sector under its privatisation programme.

Overall, 26 SoE will be privatized under the ongoing government programme including four institutions each in financial and real estate sectors.

In the new list of privatisation, maximum 14 state institutions belong to the country’s ailing energy sector.

Pakistan International Airlines (PIA) is the only SoE of the aviation sector in the functional list of the privatisation programme.

Three institutions of the state’s industrial sector have also been part of the programme.

Moreover, the State Life Insurance Corporation (SLIC) has also been included the programme.

Frome the energy sector Balloki, Haveli Bahadur, Guddu, Nandipur power plants have been part of the list.

Moreover, 10 state-owned electricity distribution companies would also been privatised to the private sector under the active list.

“The House Building Finance Corporation, First Women Bank, Pakistan Engineering Company and Sindh Engineering Limited have also been in the government’s privatisation list.”

Services International Hotel Lahore, Jinnah Convention Centre Islamabad and the PIA’s Roosevelt Hotel in New York are the state-owned entities to be privatised under the official privatisation list.