https://sputniknews.in/20240514/pakistan-to-privatize-all-state-owned-enterprises-except-strategic-entities-7361926.html
Pakistan to Privatize All State-Owned Enterprises Except Strategic Entities
Pakistan to Privatize All State-Owned Enterprises Except Strategic Entities
Sputnik India
Pakistan Prime Minister Shehbaz Sharif chaired a meeting focused on the selling-off of of financially struggling state enterprises. It was reported that the 2024-2029 privatisation plan includes power distribution companies.
2024-05-14T18:37+0530
2024-05-14T18:37+0530
2024-05-14T18:37+0530
political affairs
shehbaz sharif
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All of Pakistan’s state-owned enterprises (SOEs) — except for strategic entities — will be privatised, Prime Minister Shehbaz Sharif announced on Tuesday.A statement from the prime minister's office said Sharif chaired a meeting focused on the privatization of financially-struggling state enterprises.The PM emphasized that the government's role is to foster a business-friendly environment rather than engage directly in economic activities.Sharif also instructed all federal ministries to work with the Privatisation Commission.During the meeting, it was noted that selling off power distribution companies had been incorporated into the privatisation program for 2024-2029.The discussions came a day after an International Monetary Fund (IMF) delegation initiated negotiations in Islamabad for a fresh long-term Extended Fund Facility (EFF), following Pakistan's fulfilment of a $3 billion standby arrangement the previous month.Previously, only loss-making state-owned enterprises were slated for privatisation in Pakistan, But the IMF has long urged the South Asian nation to sell off all its state-owned enterprises as it grapples with a major fiscal deficit.The privatisation of Pakistan International Airlines (PIA), one of the largest loss-making enterprises, is reportedly in its final stages.
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pakistan, state-owned enterprises (soes), strategic entities, privatization, pakistan's prime minister, pm shehbaz, privatization of financially state enterprises, prime minister, business-friendly environment, radio pakistan, privatisation commission, power distribution companies, privatisation commission, international monetary fund (imf), long-term extended fund facility (eff), privatization in pakistan, pakistan international airlines (pia)
pakistan, state-owned enterprises (soes), strategic entities, privatization, pakistan's prime minister, pm shehbaz, privatization of financially state enterprises, prime minister, business-friendly environment, radio pakistan, privatisation commission, power distribution companies, privatisation commission, international monetary fund (imf), long-term extended fund facility (eff), privatization in pakistan, pakistan international airlines (pia)
Pakistan to Privatize All State-Owned Enterprises Except Strategic Entities
Pakistan Prime Minister Shehbaz Sharif chaired a meeting focused on the selling-off of of financially struggling state enterprises. It was later reported that the 2024-2029 privatisation plan includes power distribution companies.
All of Pakistan’s state-owned enterprises (SOEs) — except for strategic entities — will be privatised, Prime Minister Shehbaz Sharif announced on Tuesday.
A statement from the prime minister's office said Sharif chaired a meeting focused on the privatization of financially-struggling state enterprises.
The PM emphasized that the government's role is to foster a business-friendly environment rather than engage directly in economic activities.
Sharif also instructed all federal ministries to work with the
Privatisation Commission.During the meeting, it was noted that selling off power distribution companies had been incorporated into the privatisation program for 2024-2029.
“Loss-making state-owned enterprises [are] to be privatised on priority basis and that a pre-qualified panel of experts is being appointed in Privatisation Commission to speed up privatisation process,” Radio Pakistan reported.
The discussions came a day after an
International Monetary Fund (IMF) delegation initiated negotiations in Islamabad for a fresh long-term Extended Fund Facility (EFF), following Pakistan's fulfilment of a $3 billion standby arrangement the previous month.
Previously, only loss-making state-owned enterprises were slated for privatisation in Pakistan, But the IMF has long urged the South Asian nation to sell off all its state-owned enterprises as it grapples with a major fiscal deficit.
“State-owned enterprises will be privatised whether they are in profit or losses,” the statement stressed.
The privatisation of
Pakistan International Airlines (PIA), one of the largest loss-making enterprises, is reportedly in its final stages.
