Prime Minister Shehbaz Sharif said privatising loss-making state-owned enterprises (SOEs) is central to Pakistan’s economic reform agenda. He highlighted the successful sale of a 75% stake in Pakistan International Airlines (PIA) as a key milestone. The premier stressed that transparent bidding and strategic decisions will strengthen the country’s financial stability.
Addressing the federal cabinet in Islamabad, PM Shehbaz noted that the government’s reforms have helped pull Pakistan back from the brink of default. He praised significant GDP growth in the first quarter of the current fiscal year. According to the Prime Minister Office, these achievements underscore the administration’s focus on fiscal discipline and structural reforms.
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The premier also shared updates on Pakistan’s foreign relations, saying recent talks with UAE President Sheikh Mohamed bin Zayed and Saudi Crown Prince Mohammed bin Salman were productive. Both sides expressed satisfaction with the pace of economic and strategic cooperation. Discussions also explored expanding trade, investment, and strategic ties.
Cabinet members approved multiple policy decisions, including those from the Cabinet Committee for Legislative Cases and the Economic Coordination Committee. These included strategies for relief to electricity consumers and measures related to Off-Grid Captive Power Plant levies. PM Shehbaz congratulated cabinet members on their collaborative efforts in advancing reforms.
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The government aims to continue privatisation and structural reforms to reduce fiscal burdens, improve efficiency, and attract private investment. Officials say transparent processes, such as the PIA sale, will set a benchmark for future SOE privatisations.