Categorisation of commercial SOEs: PM irked by delay in submission of summaries

  • Directs concerned secretaries to personally and proactively oversee the process to ensure submission of requisite recommendations/summaries to Cabinet Committee on State-Owned Enterprises
Updated 08 Jun, 2024

ISLAMABAD: Prime Minister Shehbaz Sharif has reportedly expressed annoyance at ministries/Divisions for delaying the sharing of information on categorization of commercial State-Owned Enterprises as strategic/essential entities, well-informed sources in Finance Ministry told Business Recorder.

In a letter to all concerned Secretaries, Additional Secretary-II, Prime Minister Office (PMO) Syed Shakeel Shah stated that it has been observed that despite frequent and clear directives of the Prime Minister, Cabinet Committee on Privatization (CCoP) and Cabinet Committee on State-Owned Enterprises (CCoSOEs), the recommendations on categorization of commercial state-owned enterprises as strategic/essential entities by CCoSOEs have not yet been submitted by concerned ministries/Division to CCoSOEs.

The deadline for submission of summaries to the CCoSOE has already expired on May 27, 2024.

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As categorization of CCoSOEs is critical to finalization of ‘Privatisation Programme’, any delays in submission of requisite recommendations/summaries to CCoSOEs are bound to adversely affect the pace of overall privatisation.

The Prime Minister, while expressing concern over current state of affairs, has desired that concerned Secretaries shall personally and proactively oversee the process to ensure submission of requisite recommendations/summaries to CCoSOEs (Cabinet Division) by June 10, 2024, followed by submission of a compliance report on June 11, 2024, for perusal of the Prime Minister. No further extension in timelines, beyond June 10, shall be granted.

A list of ministries/Divisions along with their relevant SOEs, in respect of which requisite recommendations/summaries are required to be submitted to CCoSOEs, is as follows: (i) Cabinet Division- Pakistan Tourism Development Corporation (PTDC), Printing Corporation of Pakistan; (ii) Commerce Division –Pakistan Reinsurance Company Limited, National Insurance Company Limited, State Life Insurance Corporation of Pakistan (SLIC), Trading Corporation of Pakistan, Pak Expo Centres (Pvt.) Ltd; (iii) Communication Division - Pakistan Post Office Department (PPoD); (iv) Defence Production Division - KS&EW, Telephone Industry of Pakistan (TIP); (v) Finance Division - SME Bank Limited, Exim Bank of Pakistan, National Security Printing Company (Private) Limited, National Bank of Pakistan (NBP), Industrial Development Bank Limited (IDBL); (vi) Housing & Works – National Construction Limited, Pakistan Environmental Planning &Architectural Consultant (PEPAC); (vii) Industries and Production- Export Processing Zones Authority (EPZA), Small and Medium and Enterprises Development Authority (SMEDA); (viii) Information and Broadcasting - Pakistan Broadcasting Corporation (PBC), Pakistan Television Corporation(PTV); (ix) Information Technology and Telecommunication- National Telecommunication Corp; (x) Maritime Affairs - Karachi Port Trust, Port Qasim Authority, Gwadar Port Authority, Pakistan National Shipping; (xi) National Food Security and Research - Pakistan Agricultural Storage & Services Corp (Passco) Ltd; (xii) Petroleum Division - Pakistan Minerals Development Corp(PMDC); (xii) Power Division - Genco Holding Company Limited (GHCL), National Power Park Management Company Limited (NPPMCL), Power Holding Private Limited (PHPL), Central Power Purchasing Agency–Guaranteed (CPPA-G), Private Power and Infrastructure Board (PPIB), National Engineering Service of Pakistan (NESPAK); (xiii) Pakistan Railways Freight Transportation Company (PRFTC); (xiv) Revenue Division- Pakistan Revenue Automation Pvt. Ltd; and (xv) Ministry of Science and Technology - STEDEC Technology Commercialization of Pakistan.

Last month, Prime Minister, while presiding over a high level meeting had stated that all SOEs would be privatized except strategic entities.

He also directed all the Federal Ministries to carry out the necessary procedures and extend their cooperation to the Privatisation Commission for this purpose.

Copyright Business Recorder, 2024

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