Prime Minister Shehbaz Sharif chairs a meeting of the working group on agricultural reforms at the Prime Minister’s House on Tuesday. Photo: APP
Prime Minister Shehbaz Sharif stressed on Tuesday that the privatization of loss-making state-owned enterprises remains a top priority of the government, highlighting the sale of 75 percent of PIA’s shares as a first step towards broader reform.
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.
Read: PIA to restart London route, its most popular international service
In the first batch, Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO) will be privatized.
In the second phase, Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO) will be included.
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.
He also called for significant improvement in the Commission’s public relations and marketing functions to ensure effective communication with stakeholders and the market.
The meeting was briefed on ongoing reform initiatives within the Privatization Commission.
Meeting participants said market advisors would be recruited in key areas including finance, human resources, law, information technology and media management.
Read also: The Arif Habib consortium wins the PIA privatization bid with an offer of Rs135b
In addition, consultants specializing in strategy, policy, transactions and the power sector would be engaged to support the mandate of the Commission.
The Prime Minister was informed that the reforms are anchored in strategic discipline, strong governance, strengthened institutional capacity and transparent engagement with stakeholders.
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 educating farmers to 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.
Read: Pakistan’s $3 million partisan PR battle to get Washington’s attention
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.
The Prime Minister pointed out that the government was also taking policy measures aimed at processing agricultural products into export-ready products.
Recently, he said that 1,000 Pakistani students had been sent to China at government expense to receive training in modern agricultural technology. Pakistan has great potential in the agricultural sector, the Prime Minister said, adding that within available resources, investments are being made in research for agricultural development to increase yield per acre.
