Prime Minister Shehbaz Sharif on Thursday directed authorities to seek assistance from reputable legal experts to resolve legal hurdles in the privatisation process.
The prime minister made these remarks while chairing a meeting held today in Islamabad to assess the task management system for overseeing the privatisation of state-owned enterprises.
“I will not allow institutions that squander the Pakistani public’s precious resources to cause further loss,” PM Shehbaz said, read a statement released by the Prime Minister’s Office (PMO)
He said that the privatisation of state-owned entities (SOEs) is part of the government’s recently launched ‘Uraan Pakistan’ initiative, adding that the privatisation of designated SOEs must be expedited without compromising transparency.
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During the meeting, the prime minister was briefed on the progress of the task management system for privatisation.
Updates were provided on timelines for privatising various institutions. It was stated that the federal government’s privatisation plan would be executed in three phases: 10 SOEs in the first phase, 13 in the second, and the remaining in the third.
PM Shehbaz directed authorities to accelerate privatisation and ensure its completion within stipulated timelines.
He reiterated that the timely execution of reforms is key to accelerating economic recovery.
The PM was of the view that the government’s role is not to run businesses “but to create policy measures and facilitate opportunities for trade and investment.”
Federal ministers Abdul Aleem Khan, Muhammad Aurangzeb, Rana Tanveer Hussain, Ahad Khan Cheema, and senior officials attended the meeting.
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