Key Takeaways
- Prime Minister Shehbaz Sharif directed the completion of privatisation programmes within deadlines.
- Zarai Taraqiati Bank Limited (ZTBL) must continue to support small farmers post-privatisation, he said.
- Several power distribution companies are also part of ongoing privatisation processes.
Prime Minister Shehbaz Sharif has directed the completion of all stages of Pakistan’s privatisation programme within stipulated timelines. At a meeting to review progress on state-owned enterprise (SOE) privatisations, he highlighted the importance of close coordination among ministries and institutions.
Shehbaz specifically instructed that the Zarai Taraqiati Bank Limited (ZTBL), which plays a crucial role in supporting agricultural development, must be structured during its privatisation to continue prioritising small and medium-sized farmers. He emphasized that improving farmers’ access to financial resources is essential for increasing crop productivity.
The prime minister’s directive came as the Ministry of Privatisation briefed participants on progress under the government’s privatisation programme. According to officials, 27 SOEs have been placed on a three-phase privatisation agenda. The first phase has already seen the completion of financial closing and transfer of management control for Pakistan International Airlines (PIA) and First Women Bank.
Expressions of Interest (EOIs) have been invited for Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO). Submission deadlines are set for August 7, August 21, and September 7 respectively. Officials noted that several international companies have shown interest in acquiring these power distribution companies.
The meeting also reviewed progress on the privatisation of Islamabad International Airport, Jinnah International Airport Karachi, and Allama Iqbal International Airport Lahore. The prime minister directed authorities to maintain continuous oversight of all ongoing transactions to ensure their completion within agreed timelines.
Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers Khawaja Muhammad Asif, Jam Kamal Khan, Sardar Owais Khan Leghari, Minister of State Bilal Azhar Kayani, Adviser to the Prime Minister Muhammad Ali, Special Assistant Haroon Akhtar, and senior government officials attended the meeting.
Shehbaz’s directive underscores the government’s commitment to ensuring that privatisation processes do not compromise the core mandates of SOEs. The focus on ZTBL highlights the importance of maintaining support for small farmers in Pakistan’s agricultural sector.
