Govt to privatise up to 50 state-owned enterprises
The government is set to privatise up to 50 state-owned enterprises (SOEs) over the next 3 to 4 years, Minister for Economic Affairs Ahad Cheema announced during a meeting with a World Bank (WB) delegation on Monday.
Cheema met with a delegation of Executive Directors (EDs) and Alternate Executive Directors (AEDs) from the World Bank Group (WBG), which arrived in Pakistan to review the implementation of $40 billion in funding under the newly launched Country Partnership Framework (CPF).
During the meeting, the minister outlined the government's priority to privatise the SOEs, acknowledging that approximately one-third of these enterprises are considered strategic assets.
Cheema reiterated the government's goal to privatise the remaining SOEs in phases. The first phase will focus on the privatisation of power distribution companies (discos), while the second phase will include the privatisation of Pakistan International Airlines (PIA) and other SOEs.
He also highlighted the challenges facing Pakistan's power sector, including high tariffs, significant losses in line efficiency, and ongoing efforts to achieve full cost recovery. He emphasised that addressing renewable energy resources and line losses are key priorities in Pakistan's energy strategy.
The minister further noted that Pakistan's economy is on a positive trajectory, with increased public sector development program (PSDP) funding aimed at strengthening infrastructure and social development projects.
The World Bank delegation expressed strong support for Pakistan's new Country Partnership Framework and reaffirmed their commitment to assisting Pakistan in achieving its development goals.
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