ISLAMABAD: Prime Minister Shehbaz Sharif directed concerned officials to expedite privatisation process of Pakistan International Airlines, Pakistan Steel Mills and other loss-making state-owned institutions.

Presiding over high-level meeting here to evaluate privatisation process, PM Shehbaz directed that immediate measures should be taken to strengthen ability of institutions in charge of privatisation in order to resuscitate economy and speed up process of delivering assistance to people.

Meeting reviewed progress made so far and challenges in privatising loss-making state-owned enterprises including Pakistan International Airlines, First Women Bank, Roosevelt Hotel, Heavy Electrical Complex, power plants and power distribution companies as well as Pakistan Steel Mills Corporation.

During meeting, committee was also formed to review idea to transfer power businesses to provinces. Committee has been tasked to present its recommendations to Prime Minister. He said that Pakistani people are compelled to bear enormous cost of keeping loss-making businesses functioning.

He emphasised importance of creating competitive climate in order to speed up economic activities and provide finest possible services to people. He asked ministries, departments and institutions to offer ideas that demonstrate professionalism and devotion, terming it subject of Pakistan’s growth.

Published in The Daily National Courier, March, 08 2024

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