Mohsin Siddiqui (Chief Reporter)
Prime Minister Shahbaz Sharif presided over a significant review meeting on Tuesday concerning the privatization agenda, particularly focusing on the pre-qualification process for Pakistan International Airlines (PIA), with plans to conclude it by the end of May.
The meeting, convened at the Prime Minister House, centered on discussions regarding the operations of the Ministry of Privatization and the Privatization Commission. Prime Minister Shahbaz Sharif led the deliberations, underscoring the government’s commitment to advancing the privatization program in Pakistan.
During the meeting, the Ministry of Privatization presented the roadmap for the Privatization Program 2024-2029, outlining the strategic objectives and timelines for the initiative. Prime Minister Shahbaz Sharif reiterated the government’s stance that all state-owned enterprises, except those deemed strategic, would undergo privatization.
Emphasizing the significance of this move, Prime Minister Shahbaz Sharif clarified that regardless of profitability, all non-strategic state-owned enterprises would be subject to privatization. He urged federal ministries to extend full cooperation to the Privatization Commission to facilitate the process effectively.
In alignment with the government’s vision, Prime Minister Shahbaz Sharif reiterated that the primary role of the government is to foster a business-friendly environment conducive to investment. He highlighted the potential savings from privatizing government-owned enterprises, which could then be redirected towards enhancing service quality and public welfare.
Transparency emerged as a cornerstone of the privatization agenda, with Prime Minister Shahbaz Sharif stressing the need for utmost transparency throughout the process. He instructed relevant authorities to broadcast live the bidding process for PIA and other privatization transactions, ensuring public accountability and confidence.
Officials from the Privatization Commission provided updates during the meeting, indicating ongoing consultations for the privatization of the Roosevelt Hotel and finalization of a government-to-government transaction involving First Women Bank Limited with the United Arab Emirates.
Furthermore, it was revealed that electricity distribution companies have been incorporated into the Privatization Program 2024-2029, reflecting the government’s commitment to expanding the scope of privatization initiatives.
To streamline and expedite the privatization process, Prime Minister Shahbaz Sharif announced the appointment of a pre-qualified panel of experts within the Privatization Commission. This move aims to enhance efficiency and effectiveness in executing privatization objectives.
In conclusion, Prime Minister Shahbaz Sharif’s leadership in advancing the privatization agenda underscores the government’s determination to promote economic reform and efficiency in state-owned enterprises. By prioritizing transparency and collaboration, the government seeks to create an environment conducive to investment and sustainable growth.
Prime Minister Shahbaz Sharif’s proactive approach to privatization signals a pivotal step towards modernising Pakistan’s economic landscape. By streamlining state-owned enterprises and promoting private sector involvement, the government aims to foster competition, efficiency, and innovation across various sectors.
Through transparent and accountable processes, such as live broadcasting of bidding activities, the government seeks to instill public trust and confidence in its privatization efforts. Moreover, by prioritising the pre-qualification process and appointing expert panels, the government aims to ensure that privatization initiatives are executed with precision and diligence.
The inclusion of strategic sectors, such as the real estate, retail, and electricity distribution industries, underscores the comprehensive nature of the privatization agenda. By harnessing private sector expertise and investment, the government aims to unlock the potential of these sectors and drive economic growth and development.
As the privatization process unfolds, stakeholders, including investors, businesses, and citizens, will closely monitor developments and engage in discussions to shape the future direction of the economy. By fostering collaboration and transparency, the government aims to create an environment conducive to sustainable economic growth and prosperity.
In conclusion, Prime Minister Shahbaz Sharif’s leadership in advancing the privatization agenda reflects the government’s commitment to economic reform and modernisation. Through strategic initiatives and transparent processes, the government aims to unlock the full potential of Pakistan’s economy and create opportunities for all its citizens.
