Prime Minister Shehbaz Sharif on Tuesday reaffirmed that the privatisation of loss-making state-owned enterprises (SOEs) remains a top priority of the government, describing the planned sale of 75 per cent shares of Pakistan International Airlines (PIA) as the first step in a broader reform agenda.
Chairing a high-level meeting on the affairs of the Privatisation Commission at the Prime Minister’s House, the prime minister directed that the pace of reforms within the Commission be further accelerated to ensure greater efficiency, transparency and credibility in the privatisation process.
The meeting was informed that the privatisation of electricity distribution companies (DISCOs) will be carried out in two initial phases. In the first batch, Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO) are slated for privatisation. The second batch will include Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO).
Emphasising institutional strengthening, the prime minister stressed that the Privatisation Commission should be reinforced by inducting the best available talent from the private sector and the market. He directed that all appointments be made through a highly transparent process.
Highlighting the importance of modern governance, Prime Minister Shehbaz also ordered the complete digitisation of the Privatisation Commission. Additionally, he instructed that all privatisation transactions and projects must undergo third-party audits conducted by internationally reputed firms to ensure transparency and build investor confidence.
