PM Shehbaz says ZTBL privatisation must preserve support for small farmers

Prime Minister Shehbaz Sharif on Monday directed the authorities to complete all stages of the government’s privatisation programme within the stipulated timelines, stressing the need for close coordination among ministries and institutions to ensure timely implementation.

Chairing a meeting to review progress on the privatisation of state-owned enterprises, the prime minister instructed officials to strictly adhere to all targets and deadlines set under the programme.

Shehbaz said the privatisation structure for the Zarai Taraqiati Bank Limited (ZTBL) should be designed in a way that preserves the bank’s core mandate of supporting the agricultural sector. He directed that the bank should continue prioritising agricultural financing and credit facilities for small and medium-sized farmers even after privatisation.

“Improving farmers’ access to financial resources was essential for increasing per-acre crop productivity,” he said, adding that agricultural development remained vital for Pakistan’s economic growth and food security.

The Ministry of Privatisation briefed the meeting on progress under the government’s privatisation programme, informing participants that 27 state-owned enterprises had been placed on the privatisation agenda in three phases.

The meeting was told that the financial closing for the privatisation of Pakistan International Airlines (PIA) and the First Women Bank had been completed. Officials said the first financial close and transfer of management control of PIA were finalised on June 29.

The prime minister was also briefed on the privatisation of Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO). Expressions of Interest (EOIs) have been invited, with submission deadlines set for August 7 for FESCO, August 21 for GEPCO, and September 7 for IESCO.

Officials said several international companies had shown interest in acquiring the power distribution companies and that investor roadshows were under way.

The meeting also reviewed progress on the privatisation of Islamabad International Airport, Jinnah International Airport Karachi, and Allama Iqbal International Airport Lahore.

The prime minister directed authorities to maintain continuous oversight of all ongoing privatisation transactions and ensure their completion within the agreed timelines.

The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers Khawaja Muhammad Asif, Jam Kamal Khan, Sardar Owais Khan Leghari, Minister of State Bilal Azhar Kayani, Adviser to the Prime Minister Muhammad Ali, Special Assistant Haroon Akhtar, and senior government officials.