Active Privatisation List: PM directs ministries to resolve issues facing SOEs

ISLAMABAD: Prime Minister Shehbaz Sharif has directed all ministries to expeditiously resolve, on priority, issues associated with State-Owned Entities (SOEs) already on the Active Privatisation List (APL), well informed sources told Business Recorder.

Presiding over a recent meeting the prime minister directed Privatisation Division and Information ministry to arrange live media coverage of every step of privatisation besides briefing senior journalists from leading newspapers on privatisation efforts and process.

The sources said, Privatisation Division will submit a report on options for transaction structure of Roosevelt Hotel’s privatisation by June 16, 2024.

The prime minister has directed that minister for Law and Justice and attorney general for Pakistan be included in the Cabinet Committee on State-Owned Enterprises (CCoSoE) by special invitation/co-opted members.

A comprehensive audit of Utility Stores Corporation (USC) shall be carried out and, keeping this audit in view, its privatisation shall be considered. All Commercial State-Owned Enterprises (CSOEs) except for essential SOESs shall be included in privatisation programme.

All ministries/divisions have also been directed to expeditiously resolve, on priority, issues associated with following CSOEs already on the APL.

Entities at advanced stage of privatisation are as follows: (i) Pakistan International Airlines; (ii) Roosevelt Hotel, NY; (iii) House Building Finance Corporation (HBFC); and (iv) First Women Bank Limited (FWBL).

Entities in pipeline for privatisation are as follows: (i) two RLNG power plants; (ii) Nandipur & Guddu Power Plants; (iii) 10 Discos; (iv) Pakistan Engineering Company Ltd (PECO); (v) Sindh Engineering limited (SEL); (vi) Pakistan Reinsurance Co Limited; and (vii) State Life Insurance Corporation (SLIC).

Copyright Business Recorder, 2024