ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday said the privatisation of the designated institutions should be expedited while maintaining transparency throughout the process.
The prime minister while presiding over a review meeting concerning the task management system implemented for the privatisation of SOEs and its oversight, declared he would not allow any further losses in SOEs that are wasting the valuable resources of the people.
“The government’s responsibility is not to operate businesses but to formulate policies and facilitate business and investment,” he added.
He underscored that privatisation of SOEs is a crucial component of the government’s Uraan Pakistan economic reform and transformation initiative.
He indicated that the government is making swift strides in bolstering the economy through timely and essential reforms.
He urged that the privatisation of the designated institutions should be expedited while maintaining transparency throughout the process. The prime minister instructed the engagement of reputable legal experts to overcome any legal obstacles impeding the privatisation efforts.
“I am personally monitoring the privatisation initiatives, and any delays will not be accepted,” he added.
The meeting also included a review of the task management system designed for the privatisation process. It was shared that the privatisation of federal government institutions would proceed in three phases.
In the first phase, the privatisation of 10 institutions, the second phase will encompass 13 institutions and the final phase will address the remaining entities.
The prime minister directed that the privatisation process be accelerated, with a clear mandate to complete it within the stipulated timelines.
Federal Minister for Privatisation Aleem Khan, Finance Minister Muhammad Aurangzeb, Education Minister Rana Tanveer Hussain, Minister for Economic Affairs Ahad Cheema and other senior officials, were present at the meeting.
Copyright Business Recorder, 2025
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