PIACL sell-off: Pre-qualification process to be completed by May-end, PM told

ISLAMABAD: Prime Minister Shehbaz Sharif was apprised on Tuesday that the pre-qualification process for the privatisation of Pakistan International Airlines (PIA) would be completed by the end of May.

An important review meeting regarding the affairs of the Ministry of Privatisation and the Privatisation Commission was held on Tuesday at the Prime Minister House here, chaired by Prime Minister Shahbaz Sharif.

The roadmap of the Privatisation Program 2024-29 was presented by the Ministry of Privatisation in the meeting.

PIA sell-off now in sight as BoD takes major step

At the outset of the meeting, the prime minister emphasised to the participants that all state-owned enterprises except strategic ones would be privatised.

He stated that aside from strategic state-owned enterprises, all other state-owned enterprises, whether profitable or loss-making, would be privatised.

In this regard, the prime minister directed all federal ministries to take necessary action and cooperate with the Privatisation Commission.

He asserted that the government’s role is not to engage in business but to ensure a business and investment-friendly environment.

He highlighted that privatising government-owned enterprises would save taxpayers’ money, which could then be utilised to enhance the quality of service delivery.

The prime minister emphasised the utmost importance of transparency in the privatisation process.

He instructed the relevant authorities to broadcast live the bidding process of PIA, along with other transactions.

Officials of the Privatisation Commission informed the meeting that necessary consultations regarding the privatisation of the Roosevelt Hotel are under way. Additionally, the government-to-government transaction of First Women Bank Limited is being finalised with the United Arab Emirates.

It was also highlighted in the meeting that electricity distribution companies have been included in the Privatisation Program 2024-29.

Participants were informed that loss-making government-owned enterprises would be prioritised for privatisation.

To expedite the privatisation process and enhance its effectiveness, a pre-qualified panel of experts is being appointed within the Privatisation Commission.

Copyright Business Recorder, 2024