Key Takeaways
- Prime Minister Shehbaz Sharif directed the completion of institutional reforms and restructuring of the Privatisation Commission (PC) within a month.
- Roadshows in Pakistan, Türkiye, Saudi Arabia, and China have yielded encouraging results for the privatisation process of power distribution companies.
- The PM emphasized the need to strengthen the PC workforce with experts from finance, law, and information technology.
Prime Minister Shehbaz Sharif has directed relevant authorities to complete the ongoing institutional reforms and restructuring of the Privatisation Commission (PC) within one month. This directive was issued during a review meeting on the privatisation of power distribution companies and the institutional restructuring of the PC.
During the meeting, it was decided that roadshows were completed both domestically and internationally to attract investor interest in the first phase of the privatisation of power distribution companies, including GEPCO, FESCO, and IESCO. The briefing stated that these roadshows have yielded encouraging results.
The PM directed an effective and comprehensive strategy should be adopted to ensure the participation of world-class investors in the privatisation process. He also highlighted the importance of completing all stages within the stipulated timeframe, in accordance with established rules and best practices, while ensuring profitability.
Furthermore, the premier instructed that the privatisation commission’s workforce should be strengthened by including experts from international standards in finance, law, and information technology. The PM added that recommendations from consultants with the highest level of professional expertise should be incorporated throughout the privatisation process.
The Prime Minister's Office (PMO) also reported on a separate meeting where Shehbaz directed officials to complete all stages of the government’s privatisation programme within prescribed timelines. This was part of a broader review of the privatisation of state-owned enterprises, with key officials attending including Deputy Prime Minister and Foreign Minister Senator Muhammad Ishaq Dar.
At the meeting, PM Shehbaz emphasized that the privatisation structure for Zarai Taraqiati Bank Limited (ZBTL) should be designed to safeguard its primary role in agricultural financing. He stated, 'It must be ensured that even after privatisation, the Zarai Taraqiati Bank’s focus on providing agricultural loans and financial resources to small and medium-scale farmers remains intact.'
The PM also noted that improving farmers' access to financial resources is essential for increasing per-acre agricultural productivity, especially for small and medium-scale cultivators. He added that agricultural development remains critical to Pakistan's economic growth and food security.
Officials from the privatisation ministry briefed the meeting on progress under the government’s privatisation programme and future targets. The meeting was told that 27 state-owned enterprises were included in the programme, which is being implemented in three phases.
An effective and comprehensive strategy should be adopted to ensure the participation of world-class investors in the privatisation of power distribution companies (DISCOs).
Prime Minister Shehbaz Sharif, Prime Minister
It must be ensured that even after privatisation, the Zarai Taraqiati Bank’s focus on providing agricultural loans and financial resources to small and medium-scale farmers remains intact.
Prime Minister Shehbaz Sharif, Prime Minister
