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Print Print 2024-06-08

Categorisation of commercial SOEs: PM irked by delay in submission of summaries

  • Directs concerned secretaries to personally and proactively oversee the process to ensure submission of requisite recommendations/summaries to Cabinet Committee on State-Owned Enterprises
Published June 8, 2024

ISLAMABAD: Prime Minister Shehbaz Sharif has reportedly expressed annoyance at ministries/Divisions for delaying the sharing of information on categorization of commercial State-Owned Enterprises as strategic/essential entities, well-informed sources in Finance Ministry told Business Recorder.

In a letter to all concerned Secretaries, Additional Secretary-II, Prime Minister Office (PMO) Syed Shakeel Shah stated that it has been observed that despite frequent and clear directives of the Prime Minister, Cabinet Committee on Privatization (CCoP) and Cabinet Committee on State-Owned Enterprises (CCoSOEs), the recommendations on categorization of commercial state-owned enterprises as strategic/essential entities by CCoSOEs have not yet been submitted by concerned ministries/Division to CCoSOEs.

The deadline for submission of summaries to the CCoSOE has already expired on May 27, 2024.

Categorising PBC as strategic SOE: Ministry seeks Cabinet body on SOEs nod

As categorization of CCoSOEs is critical to finalization of ‘Privatisation Programme’, any delays in submission of requisite recommendations/summaries to CCoSOEs are bound to adversely affect the pace of overall privatisation.

The Prime Minister, while expressing concern over current state of affairs, has desired that concerned Secretaries shall personally and proactively oversee the process to ensure submission of requisite recommendations/summaries to CCoSOEs (Cabinet Division) by June 10, 2024, followed by submission of a compliance report on June 11, 2024, for perusal of the Prime Minister. No further extension in timelines, beyond June 10, shall be granted.

A list of ministries/Divisions along with their relevant SOEs, in respect of which requisite recommendations/summaries are required to be submitted to CCoSOEs, is as follows: (i) Cabinet Division- Pakistan Tourism Development Corporation (PTDC), Printing Corporation of Pakistan; (ii) Commerce Division –Pakistan Reinsurance Company Limited, National Insurance Company Limited, State Life Insurance Corporation of Pakistan (SLIC), Trading Corporation of Pakistan, Pak Expo Centres (Pvt.) Ltd; (iii) Communication Division - Pakistan Post Office Department (PPoD); (iv) Defence Production Division - KS&EW, Telephone Industry of Pakistan (TIP); (v) Finance Division - SME Bank Limited, Exim Bank of Pakistan, National Security Printing Company (Private) Limited, National Bank of Pakistan (NBP), Industrial Development Bank Limited (IDBL); (vi) Housing & Works – National Construction Limited, Pakistan Environmental Planning &Architectural Consultant (PEPAC); (vii) Industries and Production- Export Processing Zones Authority (EPZA), Small and Medium and Enterprises Development Authority (SMEDA); (viii) Information and Broadcasting - Pakistan Broadcasting Corporation (PBC), Pakistan Television Corporation(PTV); (ix) Information Technology and Telecommunication- National Telecommunication Corp; (x) Maritime Affairs - Karachi Port Trust, Port Qasim Authority, Gwadar Port Authority, Pakistan National Shipping; (xi) National Food Security and Research - Pakistan Agricultural Storage & Services Corp (Passco) Ltd; (xii) Petroleum Division - Pakistan Minerals Development Corp(PMDC); (xii) Power Division - Genco Holding Company Limited (GHCL), National Power Park Management Company Limited (NPPMCL), Power Holding Private Limited (PHPL), Central Power Purchasing Agency–Guaranteed (CPPA-G), Private Power and Infrastructure Board (PPIB), National Engineering Service of Pakistan (NESPAK); (xiii) Pakistan Railways Freight Transportation Company (PRFTC); (xiv) Revenue Division- Pakistan Revenue Automation Pvt. Ltd; and (xv) Ministry of Science and Technology - STEDEC Technology Commercialization of Pakistan.

Last month, Prime Minister, while presiding over a high level meeting had stated that all SOEs would be privatized except strategic entities.

He also directed all the Federal Ministries to carry out the necessary procedures and extend their cooperation to the Privatisation Commission for this purpose.

Copyright Business Recorder, 2024

Comments

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KU Jun 08, 2024 10:44am
A true leader would have dismissed anyone and everyone who was found involved in delaying privatization of SOEs. We still don't realize the gravity of danger, its Pakistan versus Raj corrupt system.
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Ch K A Nye Jun 08, 2024 11:15am
@zakir, there are better odds of winning in a casino. At least in a casino we know what the house odds are.
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Maqbool Jun 08, 2024 01:54pm
Many missing : Gem jewelry corp, Stone Development Company, Gems and Jewellery Development Company Hunting and Sporting Arms Development Company Furniture Pakistan Company Etc etc how many more ?
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Fayez Jun 08, 2024 02:24pm
Gov has stakes in KAPCO, K-Electric, PTCL, SSGC, SNGP, PSO, PARCO, DISCO'S, WAPDA, DFI'S ( PAK IRAN, PAK OMAN, PAK KUWAIT ETC), HBFC, subsidaries of FWO. all of these are still missing from the list.
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Mubashir Munir Jun 08, 2024 02:59pm
Terminate the secretaries and appoint new professionals.You are to start from scratch our system should be changed for working as the Chinese are working
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Mubashir Munir Jun 08, 2024 03:18pm
Terminate these secretaries immediately they are not upto mark hire new competent people
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Mir hamza Jun 08, 2024 05:01pm
I am supplying car parts electrical parts hardware Stationery
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Maqbool Jun 08, 2024 09:02pm
I know over a dozen SOE left off the list . Those responsible should be suspended , if this government is really serious about serving the people
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