Finance Minister Muhammad Aurangzeb announced that the government, under Prime Minister Shehbaz Sharif, is committed to tackling the country’s economic problems. One of the key steps they are taking is privatizing some state-owned enterprises to improve efficiency and reduce the financial burden on the government.
He shared that the government plans to complete the privatization of Pakistan International Airlines (PIA) and three power distribution companies by the end of 2024.
This announcement comes after the recent delay in PIA’s privatization deadline to October 31. The delay was due to a lack of interest from potential bidders and ongoing legal challenges. Despite these setbacks, the government is determined to move forward with the process.
Apart from PIA, the government is also planning to privatize more state-owned enterprises as part of a broader policy to streamline and improve the efficiency of the public sector.
Among these companies are the Pakistan Stone Development Company and the Pakistan Automobile Corporation, which have been identified for potential privatization. This move is part of the government’s strategy to reduce the financial losses of these companies and attract private sector investment to stimulate economic growth.
