Sell-off programme: Key updates proposed by Privatisation Commission Board

ISLAMABAD: The Privatisation Commission Board, which met here on Monday under the chairmanship of Muhammad Ali, Adviser to the Prime Minister on Privatisation and the PC Chairman, has proposed important updates to the national privatisation programme.

The Board recommended the addition of three state-owned enterprises (SOEs) to the active Privatisation Programme and advised the delisting of two SOEs, based on the recommendations of the Board’s Investment Committee.

The Investment Committee of the Privatisation Commission carried out a detailed evaluation of the 15 SOEs referred to the Commission by relevant ministries for inclusion in the privatisation programme.

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Based on the recommendations of the Investment Committee, the PC Board cleared Saindak Metals Limited (SML), Pakistan Minerals Development Corporation (PMDC), and National Insurance Company Limited (NICL) for inclusion in the Privatisation Programme.

The remaining 12 SOEs were found not viable for privatisation by the Investment Committee and were, therefore, not approved by the Board for inclusion in the privatisation programme.

The Board also recommended the delisting of Sindh Engineering Limited (SEL) and the Utility Stores Corporation (USC) from the Privatisation Programme. SEL has remained non-operational since 2007–08, and its only tangible assets comprise litigation-encumbered land. In the case of USC, operations have already ceased following a government decision, and the Corporation’s liabilities significantly exceed its assets.

In reaffirming its approach, the PC Board reiterated that the privatisation programme will remain anchored in the government’s broader SOE reform and fiscal consolidation framework, with decisions guided by transparency, market feasibility, and protection of the public interest.

The Board emphasised that only those entities meeting viability and transaction-readiness criteria will be pursued for privatisation, and the administrative ministries may pursue alternate options, including liquidation, for SOEs not found viable for privatisation. This prioritisation ensures that institutional resources are directed toward transactions that are credible, executable, and aligned with national economic objectives.

Copyright Business Recorder, 2025