Govt to privatise 24 institutions in three phases; PIA in first

The federal government has announced a three-phase plan to privatize 24 state-owned enterprises (SOEs), starting with 10 major institutions — including Pakistan International Airlines (PIA), the Roosevelt Hotel within the next 12 months.

According to a written response submitted in the National Assembly, the privatisation plan will be executed as follows:

Phase 1 (within 1 year):

• 10 institutions, including:
  • PIA
  • Roosevelt Hotel (USA)
  • Agricultural Development Bank
  • Three DISCOs, including Islamabad Electric Supply Company (IESCO)

Phase 2 (1 to 3 years):

• 13 institutions, including:
  • State Life Insurance Corporation
  • Utility Stores Corporation
  • Four Gencos (Generation Companies)
  • Six more DISCOs, including Lahore Electric Supply Company (LESCO)
    

Phase 3 (3 to 5 years):

• 1 institution:
  • Postal Life Insurance Company

The Privatization Commission will oversee the entire process in coordination with relevant ministries and regulatory bodies.

Speaker slams ministries for ignoring parliamentary queries

During the session, National Assembly Speaker Sardar Ayaz Sadiq expressed strong disapproval over the non-responsiveness of the Ministry of Planning and the Ministry of Finance, whose representatives failed to adequately answer members’ queries.