Pakistan to Privatise 50 State-Owned Enterprises in Next Four Years

The government plans to privatise up to 50 state-owned enterprises (SOEs) over the next three to four years. Minister for Economic Affairs Ahad Cheema shared this update during a meeting with a World Bank delegation on Monday.

Cheema met with Executive Directors (EDs) and Alternate Executive Directors (AEDs) from the World Bank Group (WBG). The delegation is in Pakistan to review the implementation of $40 billion in funding under the new Country Partnership Framework (CPF).

Government’s Privatisation Strategy

Cheema said the government prioritises privatisation. He acknowledged that around one-third of the SOEs are strategic assets. The remaining SOEs will be privatised in phases.

In the first phase, the government will privatise power distribution companies (Discos). The second phase will focus on Pakistan International Airlines (PIA) and other enterprises.

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The minister discussed Pakistan’s power sector issues. He pointed out high electricity tariffs and inefficiencies in the system. He stressed that reducing line losses and improving renewable energy resources are top priorities. The government aims to achieve full cost recovery in the sector.

Economic Growth and Development Plans

Cheema highlighted the country’s improving economic situation. He said the government increased funding for the Public Sector Development Program (PSDP). This funding will strengthen infrastructure and social development projects.

World Bank’s Support

The World Bank delegation expressed strong support for Pakistan’s reforms. They reaffirmed their commitment to helping Pakistan achieve its development goals. The delegation appreciated Pakistan’s economic progress and backed the new Country Partnership Framework.

The government hopes these privatisation efforts will boost economic growth and attract investment.