ISLAMABAD: The federal government has decided to privatize 24 state-owned enterprises in three phases, starting with PIA and the Roosevelt Hotel. The government unveiled today the privatisation roadmap targeting 24 state-owned enterprises (SOEs), with the first phase focusing on 10 key institutions within the next 12 months.
The details were shared in a written response submitted to the National Assembly, outlining a comprehensive timeline for privatisation:
📌 Phase 1: Within 1 Year
Privatisation of 10 entities, including:
- PIA
- Roosevelt Hotel (USA)
- Agricultural Development Bank
- Three electricity distribution companies (DISCOs), including Islamabad Electric Supply Company (IESCO)
📌 Phase 2: Within 1–3 Years
Privatisation of 13 additional SOEs, including:
- State Life Insurance Corporation
- Utility Stores Corporation
- Four power generation companies (GENCOs)
- Six more DISCOs, including Lahore Electric Supply Company (LESCO)
📌 Phase 3: Within 3–5 Years
- Postal Life Insurance Company
The Privatization Commission will supervise the process in coordination with relevant ministries and regulatory bodies.
🏛️ Speaker Criticises Government Ministries Over Lack of Accountability
During the parliamentary session, National Assembly Speaker Sardar Ayaz Sadiq expressed strong disapproval over the continued absence and lack of responses from the Ministry of Planning and the Ministry of Finance.
“This Parliament is not to be taken lightly,” said Speaker Sadiq, warning that if necessary, he would summon the Governor of the State Bank of Pakistan.
Rejecting the Minister of State’s request for additional time, the Speaker demanded immediate accountability and called for the secretaries of Finance and Planning to appear before the House without delay.
