Minister for Privatisation and Investment Board Abdul Aleem Khan chaired a high-level meeting of the Privatisation Commission Board on Saturday to discuss the divestment of loss-making entities. The meeting approved the privatisation of power distribution companies and the appointment of financial advisers for these DISCOS. It was decided that all legal formalities would be finalized by January 2025 and that three companies would be privatized in the first phase.
The Privatisation Commission Board was also updated on the progress of the privatisation of Pakistan International Airlines (PIA), according to a press release issued today. Speaking on the occasion, Minister for Privatisation Abdul Aleem Khan emphasized the immediate need for a transparent privatization process within the specified time frame. He highlighted that privatization plays a crucial role in the country’s economic development. He added that enterprises transitioning to the private sector have strong potential for profitability, as well as improved efficiencies and service delivery.
Abdul Aleem Khan urged that all privatization targets be achieved within the set time frame, noting that final approval would be granted by the Cabinet Committee on Privatisation.
The Privatisation Commission Board expressed satisfaction with the commission’s performance and called for accelerated joint efforts to transform loss-making enterprises into profit-oriented organizations, aiming for sustainable economic development and social prosperity in the country.