Minister of State for Finance Bilal Azhar Kayani on Monday said that there is complete consensus among coalition partners, including the Pakistan Peoples Party (PPP), on the privatisation policy.
Speaking to the media in Islamabad, the minister reaffirmed his government’s commitment to accelerating the privatisation process.
“The government had completed the privatisation of the First Women Bank Limited (FWBL),” he said, adding that Pakistan International Airlines (PIA) would be the next entity to follow suit.
Earlier, the United Arab Emirates-based International Holding Company (IHC) acquired an 82.64% stake in First Women Bank Limited (FWBL) for Rs4.1 billion, a move described by officials as a step towards expanding economic cooperation between Pakistan and the UAE.
Meanwhile, the government, as part of the International Monetary Fund (IMF) programme, is pursuing PIA privatisation, which is expected to occur in the fourth quarter of 2025.
Addressing media persons, Kayani said: “The primary goal of privatisation is to reduce the government’s footprint in commercial enterprises, improve service delivery, and ease the financial burden on taxpayers by transforming loss-making state-owned entities into profitable institutions.”
The minister added that privatisation is being pursued as part of a comprehensive reform framework.
Discussing railways, he said Pakistan aims to complete the Karachi-to-Rohri section of ML-1 and the Rohri-to-Naukundi section of ML-3 by December 2028, expressing hopes of groundbreaking next year.
Kayani said financing discussions with the Asian Development Bank (ADB) are proceeding for around $2 billion financing package. “Similarly, talks are ongoing with the Reko Diq Mining Company,” he added.
The minister said under the prime minister’s direct supervision, reforms are being implemented across institutions, including the National Tariff Commission (NTC).
American Dollar Exchange Rate