ISLAMABAD, Feb 6 (APP):Prime Minister Muhammad Shehbaz Sharif on Thursday chaired a review meeting on the task management system established for the privatization process of state-owned enterprises (SOEs) and its monitoring.
During the meeting at the Prime Minister’s Office, the Prime Minister emphasized that the privatization of SOEs was an integral part of the government’s Uraan Pakistan economic reform and transformation initiative, according to a statement from the Prime Minister’s Office.
Prime Minister Shehbaz Sharif stressed the importance of collective effort for the development of Pakistan. “I will not allow further losses in SOEs that are wasting the valuable resources of the Pakistani people. The government’s role is not to run businesses but to create policies and provide facilities for business and investment,” he stated.
He further mentioned that the government was making rapid progress in enhancing the economy through timely and necessary reforms. The privatization of designated institutions must be expedited, he said, while ensuring that transparency is not compromised.
Prime Minister Shehbaz instructed the hiring of reputable lawyers to address any legal barriers hindering the privatization process. “I am personally overseeing the privatization efforts, and no delays will be tolerated,” he added.
The meeting also included a review of the task management system designed for the privatization process. It was shared that the privatization of federal government institutions would proceed in three phases.
In the first phase, ten institutions will be privatized; in the second phase, thirteen institutions; and the final phase will address the remaining institutions.
The Prime Minister directed that the privatization process be accelerated, with a clear mandate to complete it within the stipulated timelines.
Federal Ministers Abdul Aleem Khan, Muhammad Aurangzeb, Rana Tanveer Hussain, Ahad Khan Cheema, and other senior officials were in attendance at the meeting.
