Prime Minister Imran Khan on Thursday (28 October) urged the relevant authorities to speed up the privatization of state-owned firms that are losing money.
Prime Minister Imran Khan, according to the Prime Minister’s Office, addressed the privatization of loss-making public entities in the presence of Minister for Privatization Mohammadmian Soomro and Finance Adviser Shaukat Fayaz Tarin.
Furthermore, both the Ministers briefed the Prime Minister on the progress of the privatization process of loss-making enterprises. Additionally, the Prime Minister directed the relevant ministers to take all necessary steps to maximize revenue from such firms by privatizing them and enhancing their performance.
10 State-Owned Enterprises (SOEs) were identified as “possible privatization candidates” in a finance ministry paper titled “State-Owned Enterprises Triage: Reforms & Way Forward” released in March this year. They are:
- Zarai Taraqiati Bank Limited.
- National Investment Trust Limited.
- Sui Southern Gas Company Limited.
- Sui Northern Gas Pipelines Limited.
- Utility Stores Corporation (Pvt) Limited.
- Pakistan Expo Centres (Pvt) Limited.
- Pakistan Environmental Planning & Architectural Consultants (Pvt) Limited.
- National Engineering Services Pakistan (Pvt) Limited.
- Overseas Employment Corporation (Pvt) Limited and Pakistan Tourism Development Corporation.
The research nominated 24 SOEs for privatization in the next round. They are:
- Pakistan Textile City Ltd.
- State Engineering Corporation and Telephone Industries of Pakistan.
- Quetta Electric Supply Company Limited.
- Lahore Electric Supply Company Limited.
- Peshawar Electric Supply Company Limited.
- Multan Electric Power Company Limited.
- Sukkur Electric Power Company Limited.
- Faisalabad Electric Supply Company Limited.
- Islamabad Electric Supply Company Limited.
- Hyderabad Electric Supply Company Limited.
- Tribal Electric Supply Company Limited.
- Gujranwala Electric Power Company Limited.
- Jamshoro Power Company Limited.
- National Power Parks Management.
- Lakhra Power Generation Company Limited.
- State Petroleum Refining & Petrochemical Corporation, Manufacturing.
- Mining & Engineering, Telephone Industries of Pakistan.
- State Engineering Corporation (Pvt) Limited.
- Saindak Metals Limited.
- Pakistan Mineral Development Corporation (Pvt) Limited.
- Lakhra Coal Development Company Limited.
- National Fertiliser Corporation of Pakistan (Pvt) Limited.
- Real Estate Development & Management.
- Export Processing Zones Authority.
- National Construction Limited and National Insurance Company Limited.
