Privatization
The Cabinet Committee on Privatisation, chaired by Deputy Prime Minister Ishaq Dar, met to review and advance the Privatisation Program for the period of 2024-2029.
The primary agenda of the meeting was to finalize the list of government-owned institutions slated for privatization and allocate necessary funding for the process.
During the meeting, the Ministry of Privatisation provided a detailed briefing on the current status and future plans of the privatisation program.
The committee approved a budget allocation of Rs 8.16 billion specifically for the Privatization Commission, which is tasked with overseeing the sale of public assets.
A significant outcome of the meeting was the approval to privatize 24 government-owned institutions. This decision marks a major step in the government’s effort to streamline operations and focus resources on strategic sectors.
The committee also indicated that additional institutions would be included in the privatization list following the completion of a thorough review process. This review aims to identify and prioritize non-essential and non-strategic enterprises for privatization.
However, the transfer of shares for the Oil and Gas Development Company Limited (OGDCL) to sovereign wealth funds has been deferred.
Instead, these shares will remain under the management of the Privatization Commission for the foreseeable future. This decision reflects the committee’s cautious approach towards managing critical assets.
The committee emphasized that the privatisation effort would focus on non-essential or non-strategic enterprises.
It was recommended that the government’s involvement be reserved for enterprises deemed strategic or essential to national interests.
This strategic approach is intended to ensure that privatization aligns with broader economic goals and maintains essential services and operations within government control.
Deputy Prime Minister Ishaq Dar underscored the commitment to executing the privatization program with transparency and integrity.
He stressed the importance of fostering positive relationships among all stakeholders involved in the privatization process to ensure its successful implementation.
The meeting was attended by several key figures, including Abdul Aleem Khan, Minister of Investment Board, Communications, and Privatisation, Finance Minister Muhammad Aurangzeb, Commerce Minister, Energy Minister, Industry and Production Minister, and various federal secretaries.
Their presence underscores the collaborative nature of the effort to advance the privatization agenda while ensuring effective oversight and management.
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