ISLAMABAD: The federal government has set a budgeted target of collecting Rs30 billion through privatisation proceeds in the upcoming fiscal year 2024-25.

The government intends to privatise 25 state-owned entities, including Pakistan International Airlines (PIA), Roosevelt Hotel, First Women Bank, Utility Stores Corporation, and various power distribution companies.

The federal government projected with the International Monetary Fund for next year in its second and final review under the Stand-By Arrangement (SBA) dated May 10, 2024 that it set a target to complete, by June 2024, the bidding for PIA’s core business, of which, the government would likely seek to sell a (controlling) 51 percent stake.

SOEs: PM for speeding up sell-off process

The IMF report says that Pakistan is moving forward with plans to privatise PIA and other assets and has advanced its broader privatisation agenda.

Several smaller SOEs are also currently on an active privatisation list, the report stated.

Copyright Business Recorder, 2024