The federal government has set a target of Rs 150 billion from privatisation proceeds in 2019-20. The Cabinet Committee on Privatisation (CCoP) on October 31, 2018 approved new privatisation plan for 64 state-owned entities to be privatised in five years in three phases.
In the first phase, the government has eight PSEs in the active privatisation programme and is aiming to complete the initial phase within a period of 12 to 18 months. These PSEs include: (1) National Power Management Co Ltd; (i) 1230 MW Haveli Bahadur Shah and (ii) 1223 MW Balloki Powr Plants; (2) SME Bank Limited; (3) Services International Hotel; (4) divestment of government of Pakistan's residual shares in Mari Petroleum Company Limited (MPCL); (5) Jinnah Convention Centre, Islamabad; (6) Lakhra Coal Mines and; (8) First Women Bank Limited.
The Privatisation Division has already hired financial advisors for the privatisation of two power plants and SME bank.
As many as 41 PSEs have been earmarked for phase-II and the concerned ministries/ divisions have been directed to conduct sectoral studies prior to their privatisation. These will be up for privatisation over a period of three to five years, according to the government plan. The government has de-listed 15 labour sensitive entities from privatisation list including Pakistan Steel Mills, Power Distribution Companies (DISCOs) and Pakistan International Airlines (PIA).
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