———- Cabinet okays five-year privatisation program for various entities
———- Five-year privatisation program will be completed in three phases
———- Plan includes privatisation of 24 State-owned entities
———- 13 entities under Pakistan’s Power Division included in the list
By Asghar Ali Mubarak
ISLAMABAD: Pakistan government has ‘okayed’ 5-year privatisation program on Thursday.
As per details, the decision was taken by the federal cabinet in a meeting held here in Islamabad, the sources said and added that the five-year privatisation program will be completed in three phases. In the first phase, privatisation of Pakistan International Airlines (PIA), House Building Finance Corpora-tion (HBFC), Faisalabad Electric Supply Company, Islamabad Electric Supply Company and Gujranwala Electric Supply company will be privatisaed.
Later, LESCO, MEPCO, PESCO, HESCO, SEPCO, HESCO, Utility Stores Corporation, State Life Insurance Corporation and Pakistan re-Insurance Comapny will be privaitsed, the sources said. They further say that after review, more instituions will be added to the privatisation program.
Earlier, the federal cabinet greenlighted the privatisation of 13 entities under Pakistan’s Power Divi-sion, including nine power distribution companies. Sources told media that out of the 11 government-owned power distribution companies, nine have been included in the privatisation list. However, Quetta Electric Supply Company and Tribal Electric Supply Company were excluded from the list.
Furthermore, the cabinet also approved the inclusion of power generation companies (GENCOs) in the privatisation list.
Earlier, Prime Minister (PM) Shehbaz Sharif on Tuesday approved increase in the strength of members of Privatisation Commission Board from the existing eight to 11, on the recommendations of Privatisa-tion Division.
“On the International Women’s Day, while chairing the cabinet meeting, the prime minister directed for representation of women in the country’s significant boards and under his vision, women mem-bers would be appointed on these new seats,” the PM Office Media Wing said in a press release.
The cabinet also directed for taking of all measures to keep prices of urea fertiliser under control and directed for provision of uninterrupted gas supply to urea manufacturing factories even after Septem-ber 2024 instead urea import in the light of a decision taken by Economic Coordination Committee on August 2.
“Agriculture has been the backbone of the country’s economy and the cabinet directed for ensuring reduction in the prices of agriculture inputs to mitigate farmers’ per acre expenses,” PM Shehbaz said as per a press release.
It also ratified decisions taken by the Cabinet Committee on Privatisation during its meeting on August 2, however, the prime minister further directed for submission of a comprehensive plan over those State Owned Enterprises (SOEs) whose privatisation had already been approved.
On the recommendation of Ministry of Federal Education and Professional Training, PM Shehbaz ap-proved implementation of court’s order regarding regularization of daily-wage teachers of Federal Di-rectorate of Education (FED). It also approved signing of MoU between ministries of foreign affairs of Pakistan and Democratic Gua-temala, on the recommendation of ministry of foreign affairs, for initiation of political consultations, besides, according approval to the signing of MoU between Pakistan and Ecuador for holding of bilat-eral political consultations.
The cabinet ratified the decisions taken by the Cabinet Committee on State Owned Enterprises (CCoSOEs) taken on August 5, besides giving nod to decisions taken by Cabinet Committee on Legisla-tive Cases on July 31.
