PM directs to expedite SOEs privatisation process

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif on Monday directed to expedite the process of the state-owned enterprises (SOEs) privatisation to ensure its completion within the stipulated timeframe, ARY News reported.

Chairing a review meeting on the task management system established for the privatisation process and its monitoring, PM Shehbaz said that privatisation of state-owned enterprises is part of the government’s Uraan Pakistan economic reform and transformation initiative, a Prime Minister’s Office press statement read.

The prime minister on the occasion emphasised that everyone would have to work together for the development of Pakistan. “I will not allow further losses in SOEs that are wasting the valuable resources of the Pakistani people. The government’s job is not to do business, but to provide policy measures and facilities for business and investment,” PM Shehbaz said.

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He added that the government is rapidly heading towards improving the economy with timely and necessary reforms. The privatisation process of the designated institutions should be accelerated without compromising on transparency, the prime minister said.

PM Shehbaz directed to hire services of lawyers of good reputation to remove legal obstacles in the privatisation process. “I am personally monitoring the privatisation process, no kind of delay will be accepted,” he said.

During the meeting, the prime minister was presented with a review of the task management system created for privatization.

The meeting was also informed about the specific period for privatization of various institutions. The meeting was informed that the privatization of federal government institutions was divided into three phases.

In the first phase, ten institutions would be privatized, in the second phase, thirteen, while in the third phase, the privatization of the remaining institutions would be ensured.

The prime minister directed to expedite the privatization process and ensure the completion of the privatization process within the specified period.

Federal Ministers Abdul Aleem Khan, Muhammad Aurangzeb, Rana Tanveer Hussain, Ahad Khan Cheema and relevant senior officials attended the meeting.