PM Shehbaz directs fast-tracking of privatisation reforms
- Calls PIA privatiation ‘first drop of rain’
Prime Minister Shehbaz Sharif on Tuesday reiterated that privatisation of loss-making state-owned enterprises (SOEs) remains one of the government’s top priorities, describing the successful divestment of 75% shares of Pakistan International Airlines (PIA) as “the first drop of rain” toward broader structural reforms.
Chairing a meeting on the affairs of the Privatisation Commission at the Prime Minister’s House, the prime minister directed authorities to accelerate ongoing reforms within the commission and strengthen its institutional capacity through market-based expertise.
He instructed that professionals with proven experience from the private sector be inducted in key areas, including finance, human resources, law, information technology and media management, stressing that all appointments must be made in a fully transparent manner.
The prime minister also directed the complete digitisation of the Privatisation Commission and called for third-party audits of privatisation projects by firms of international repute.
He further emphasised the need to enhance the commission’s public relations and marketing functions to improve stakeholder engagement.
During the meeting, officials briefed the prime minister on the progress of reforms underway at the Privatisation Commission.
It was informed that advisers from the market would be hired in strategic areas, while consultants would be engaged for strategy, policy, transactions and the power sector.
The briefing highlighted that strategic discipline, strong governance, enhanced institutional capacity and transparent communication with stakeholders form the core pillars of the ongoing reform process.
Officials also informed the meeting that the privatisation of power distribution companies (DISCOs) will be carried out in two initial phases. In the first batch, Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO) will be privatised. The second batch will include Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO).
The meeting was attended by Defence Minister Khawaja Asif, Federal Minister for Power Sardar Awais Ahmad Khan Leghari, Adviser to the Prime Minister on Privatisation and Chairman Privatisation Commission Muhammad Ali, along with senior government officials.
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