Government Approves Privatisation of 24 State-Owned Enterprises in New Five-Year Plan

ISLAMABAD – In a significant move towards economic restructuring, the Cabinet Committee on Privatisation (CCOP) has greenlit the sale of 24 public sector entities as part of a new five-year privatisation programme. The decision came during a high-level meeting held on Friday, chaired by Deputy Prime Minister Ishaq Dar.

Read also: Fertilizer Industry Proposes Dedicated Gas Supply Amid Urea Demand Fluctuations

The approved plan, spanning from 2024 to 2029, aims to streamline the government’s involvement in commercial sectors. The CCOP emphasized that even profitable state-owned enterprises (SOEs) would be considered for privatisation.

Key points from the meeting:

1. Additional SOEs may be added to the privatisation list following a review by the Cabinet Committee on State-Owned Enterprises.
2. The review will classify SOEs as either “strategic” or “essential,” with non-classified entities potentially joining the privatisation programme.
3. The committee examined 84 SOEs listed in the ‘Federal Footprint’ State-Owned Enterprises Consolidated Report for fiscal years 2020-22.
4. A proposal to transfer shares of OGDCL from the Privatisation Commission to a sovereign wealth fund or the Ministry of Energy was discussed, with the decision to maintain status quo for now.
5. The CCOP approved a budget of Rs8.17 billion for the Privatisation Commission for the fiscal year 2025.

Deputy Prime Minister Dar concluded the meeting by reiterating the government’s commitment to implementing the privatisation programme transparently.

This move signals a significant shift in Pakistan’s economic policy, potentially reducing the state’s role in commercial activities and attracting private investment. The impact of these privatisations on the country’s economy and public services remains to be seen.