ISLAMABAD: Finance Minister Muhammad Aurangzeb said the government is committed to accelerating the privatisation process, with 24 state-owned entities already added to the pipeline.
During a meeting with a delegation of global professional services firm Alvarez & Marsal led by Peter Briggs, in Islamabad on Wednesday, he reiterated that the government’s vision, aligned with the objectives of Prime Minister Shehbaz Sharif, is to bolster trade, investment, and tourism in Pakistan, tapping into the region’s growing economic corridor.
Meanwhile, the Cabinet Committee on State-Owned Enterprises (CCoSOEs) met at the Finance Division, chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb.
Key decisions were made regarding the re-merger of National Security Printing Company (NSPC) with Pakistan Security Printing Corporation (PSPC) and the acquisition of State Bank of Pakistan’s shares in Zarai Taraqiati Bank Limited (ZTBL).
The Committee approved the proposal to execute the Share Purchase Agreement for the acquisition of NSPC at a value of PKR 41,774 million.
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The Committee allowed the Finance Division to purchase SBP’s 4,015,599,174 equity shares in ZTBL at PKR 8,472.914 million and acquire SBP’s preference shares in ZTBL at a fixed value of PKR 54,461.536 million.
The Committee approved nominations for Independent Directors, Ex-Officio Directors, and CEOs/Executive Directors for various state-owned entities, including GENCOs Holding Company Limited and National Power Parks Management Company Limited.
The Committee approved the proposal to categorize Pakistan Railways as strategic and essential under the SOE(s) Act & Policy, 2023.
The Chair reaffirmed the Government’s commitment to ensuring transparency, accountability, and operational efficiency in the governance of state-owned enterprises
