Which public sector institutions will be privatized?

privatization

Which public sector institutions will be privatized?

Islamabad, May 16,2024: Which public sector institutions will be privatized? The details were presented in the National Assembly.

According to sources, the government has submitted the list of 25 government institutions to be handed over to the private sector in the National Assembly Secretariat. The list was presented by Federal Minister for Privatization Abdul Aleem Khan.

In a written reply to the question of Dr. Amjad Ali Khan, the Minister of Privatization said that the Ministry of Privatization has been ordered to privatize only an institution included in the active privatization list approved by the Cabinet.

The government is in the process of formulating a comprehensive privatization program 2024…2029.

In this regard, the recommendations of the Privatization Commission are being submitted to the Cabinet Committee on Privatization.

Currently 25 institutions or corporations are on the active privatization list. Among these institutions are three real estate institutions including Services International Hotel Lahore, Jinnah Convention Center Islamabad, PIA, Roosevelt Hotel New York. In the aviation sector, PIA and in the financial sector include Pakistan Reinsurance Company, State Life Insurance Corporation, House Building Finance Corporation and First Women Bank.

Sindh Engineering Limited and Pakistan Engineering Company in the industrial sector and Baloki Power Plant (1223 MW), Haveli Bahadur Power Plant (1230 MW), Guddu Power Plant (747 MW), Nandipur Power Plant (425 MW), Faisalabad Electric Supply in the energy sector. Company, Islamabad Electric Supply Company, Lahore, Gujranwala Electric Supply Company, Multan Electric Supply Company, Peshawar Electric Supply Company, Hyderabad, Quetta, Sukkur and tribal electric supply companies are included.

In a written reply to the question of Shri Mila Farooqui, he said that the privatization of PIA is one of the most complex transactions as it involves operational and financial restructuring of the institution. The Federal Cabinet had approved the privatization of PIA on August 9, 2023.