Prime Minister Shehbaz Sharif stressed Tuesday that the privatization of loss-making state-owned enterprises remains a top government priority, highlighting the sale of 75 percent of PIA’s shares as the first step in a broader reform effort.
Chairing a high-level meeting on the affairs of the Privatization Commission at the Prime Minister’s House, the Prime Minister directed that the pace of reforms in the Commission be further accelerated to ensure efficiency, transparency and credibility of the privatization process.
The meeting was informed that the privatization of electricity distribution companies (DISCO) has been planned in two initial batches.
In the first batch, Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO) will be privatized.
The second batch will include Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO).
The Prime Minister stressed that the Privatization Commission must be strengthened by integrating the best available talent from the private sector and the market.
He asked that all appointments be made in a very transparent manner. Highlighting the need for modern governance practices, he also led the complete digitalization of the Privatization Commission.
The Prime Minister further ordered that all privatization projects be subject to third-party audits conducted by internationally renowned firms.
Agricultural exports
The Prime Minister asked the authorities concerned to formulate a five-year comprehensive strategy to boost agricultural exports.
He stressed that reforming the agricultural sector and raising awareness among farmers about international standards were the government’s main priorities.
The Prime Minister chaired a meeting of a working group made up of private sector experts.
“The federal government, within its own powers, is undertaking reforms in the agricultural sector and, in collaboration with the provincial governments, is taking steps to promote agricultural development,” the premier said.
He added that the government was taking steps to increase per acre yield of crops by providing farmers with standard seeds, fertilizers and pesticides timely and at affordable prices.
