ISLAMABAD: Prime Minister Shehbaz Sharif on Monday directed authorities to complete all stages of the government’s privatisation programme within the stipulated timelines, stressing that all targets must be achieved without delay.
Chairing a meeting to review progress on the privatisation of state-owned enterprises (SOEs), the prime minister called for close coordination among relevant ministries and institutions to ensure the smooth and timely completion of ongoing transactions.
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He said continuous monitoring of all privatisation-related matters was essential and directed officials to take effective measures to meet the deadlines set under the programme.
During the meeting, the prime minister also emphasised that the proposed privatisation mechanism for Zarai Taraqiati Bank Ltd (ZTBL) must be structured in a way that protects the institution’s core mandate and its role in supporting the country’s agricultural sector.
He said that even after privatisation, ZTBL should continue to prioritise the provision of agricultural loans and financial assistance to small and medium-scale farmers.
Ensuring access to financial resources for farmers, particularly small and medium-scale growers, was vital for improving per-acre productivity, he added.
The prime minister said agricultural development remained fundamental to the country’s economic growth and food security.
The Ministry of Privatisation briefed the meeting on the overall progress of the government’s privatisation agenda, developments regarding various state-owned entities, and future targets.
Officials informed the prime minister that 27 state-owned enterprises had been included in the privatisation programme, which was divided into three phases.
The meeting was told that the financial closing process for the privatisation of Pakistan International Airlines (PIA) and First Women Bank Ltd had been completed. Officials said the first financial closing of PIA and the transfer of administrative control were completed on June 29, 2026.
The prime minister was also briefed on the progress of the privatisation process for three power distribution companies – Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO).
The meeting was informed that expressions of interest (EOIs) for all three companies had been advertised, with deadlines for investors to submit required documents set for August 7 for FESCO, August 21 for GEPCO, and September 7, 2026, for IESCO.
Officials said international companies had shown interest in acquiring stakes in the distribution companies, while investor road-shows were also under way to facilitate the process.
The meeting was further informed about progress on the privatisation of ZTBL, with officials stating that special consideration was being given to safeguarding the bank’s agricultural lending responsibilities while structuring the transaction.
The prime minister was also apprised on the privatisation process of Islamabad International Airport, Jinnah International Airport in Karachi, and Allama Iqbal International Airport in Lahore.
He directed authorities to maintain momentum on all ongoing transactions and ensure that the objectives of the privatisation programme were achieved within the announced timelines.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Defence Minister Khawaja Asif, Minister for Commence Jam Kamal, the adviser to the prime minister on privatisation Muhammad Ali, Minister for Economic Affairs Ahad Cheema, Power Minister Awais Leghari, State Minister for Finance Bilal Kayani, the special assistant to the prime minister Haroon Akhtar, and senior government officials.
Copyright Business Recorder, 2026
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