- Govt unveils the three -phase privatization roadmap.
- First phase to privatize 10 public companies.
- Cabinet approves the inclusion of 24 public companies in the program.
Islamabad: the Minister of Privatization Abdul Aleem Khan stated Thursday in the National Assembly a five-year plan (2024-29) to privatize 24 public enterprises (public enterprises) in three phases, The news reported.
The plan, presented during the time of questions in a written answer to MNA Ramesh Lal, included a complete list of the entities provided for the sale.
Under the First Phase, 10 Major Public Entities – Pakistan International Airlines (PIA), Roosevelt Hotel, Zarai Taraqiati Bank Ltd (ZTBL), Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Corporation Limited (FESCO), Gujranwala Electric Supply Corporation (GEPCO), Pakistan Engineering Company (PECO), Sindh Engineering Limited and First Women Bank Limited (FWBL) – will be privatized.
Under the second phase, covering one to three years, 13 additional entities -State Life Insurance Corporation, Utility Stores Corporation, Four Generation Companies (Gencos), including Jamshoro Power Company LTD (JPCL) -Genco -1, Central Power Generation Company LTD (CPGCL) Generation Company LTD (NPGCL) -Genco -IIII, Lakhra Granne Grannep (LPGCL) -Genco IV and six other nightclubs, notably Lahore Electric Supply Company (Lesco), Multan Electric Power Company LTD (MEPCO), Hazara Electric Supply Corporation (HAZCO) Hyderabad Electric Supply Corporation (Hesco), Peshawar Electric Supply Corporation (PESCO) and Sukkur Electric Supply Corporation (SECPCO).
The final phase, extending over three to five years, includes the privatization of the postal life insurance company.
The written answer said that the Cabinet Committee on privatization (CCOP) at its meeting held on August 2, 2024, had approved the inclusion of 24 companies (public enterprises belonging to the commercial state in the 2024-29 privatization program and it was also ratified by the federal firm on August 13, 2024.
In a written answer to a question, the Minister of Commerce, Jam Kamal Khan, presented the details of the American interest of investing in mines and minerals, including copper.
Although the US administration has imposed prices of 50% in importing copper, iron, steel and aluminum, refined copper was exempt from the 50% rate. Thus, in the current scenario, it will be more advantageous to export value added (refined) to the American market.
In another written response, Federal Minister of Commerce Jam Kamal Khan revealed that the State Life Insurance Corporation had ceased to provide health insurance services to Azad Jammu-et-Cachemire (AJK) and Gilgit-Baltistan (GB), due to the cessation of federal financing of the two regions.
Speaking in the House during the time of questions, the Minister of State for Finance Bilal Azhar Kayani declared to the National Assembly that the government would further reduce the energy prices, which will reduce the costs of inputs for exporters.
To a question on inflation, Azhar said that the government had adopted a multidimensional strategy to slow down inflation. A written response mentioned recent inflation for July FY2026 amounted to 4.1% against 11.1% the same month of last year.
Meanwhile, the room witnessed a stormy session when President Ayaz Sadiq expressed a strong dissatisfaction with the persistent non-response of the Ministry of Finance and the Ministry of Planning and Development to Parliamentary Requests.
The question occurred when the “answer not received” was subject to a question asked by the MNA Syed Rafiullah and another by Ali Muhammad Khan. President Ayaz immediately summoned the financial secretary, declaring that if necessary, he would also convene the governor of the State Bank.
“Parliament is treated with total contempt – it is unacceptable,” said the speaker in a severe decision. In a sign of protest, the speaker ordered the co-secretary finances to leave the lobby of the officers and said that continuous bureaucratic non-cooperation would no longer be tolerated. He also ordered the President of the Finance Committee to ensure the appearance of the Secretary of Finance and the Governor of the State Bank.
Ayaz was also unleashed at the Ministry of Planning on Delayed answers to parliamentary issues. Minister of State Armaghan Subhani explained that the provinces’ response was pending, which prompted the speaker to summon the secretary. “Does it take a whole year to answer a question?” He asked, rejecting the Minister of State’s request for another week.
Law Minister Azam Nazeer Tarar has apologized on behalf of the absent federal secretaries.
