ISLAMABAD: Defence Minister Khawaja Asif has said that Pakistan could have avoided losses worth hundreds of billions of rupees if the state-owned Pakistan Steel Mills had been shut down decades ago, stressing the need for timely privatisation of loss-making public enterprises. Speaking on programme, Asif argued that delays in restructuring and privatising state-owned entities have […]
privatisation
Govt advances privatisation of DISCOs as investor outreach begins
Pakistan is courting investors from Saudi Arabia, China and Türkiye as it moves ahead with the privatization of three state-owned electricity distribution companies, Prime Minister Shehbaz Sharif’s office said on Tuesday, marking a key step in the country’s efforts to reform its troubled power sector. The move comes as Pakistan seeks to reduce the financial […]
Government invites expressions of interest for privatisation of three DISCOs
The Privatization Commission, has formally invited Expressions of Interest (EOIs) from local and international investors for the privatization of three major electricity distribution companies (DISCOs) including Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO). The transaction offers investors the opportunity to acquire between 51 percent and 100 […]
Pakistan’s gas sector burdened by Rs3.28 trillion circular debt
ISLAMABAD: Pakistan’s gas sector is facing a financial crisis, with circular debt swelling to Rs3.283 trillion, lawmakers were informed during a briefing before the National Assembly’s Standing Committee on Petroleum. Parliamentarians warned that rising losses at state-run utilities could destabilise the system and ultimately burden consumers. Read More: Government plans to clear gas sector circular debt […]
PM Shehbaz announces Rs4.4/unit cut in industrial electricity, export tax relief
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday announced a reduction of Rs4.40 per unit in electricity tariffs for the industrial sector and an Rs9 cut in wheeling charges, aiming to provide relief to businesses and boost export-led growth. Read More: PM unveils subsidised power package for industries, farmers The premier made the announcement during a ceremony held in […]
PIA officially handed to Arif Habib consortium under privatisation deal
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday said the “glory days” of Pakistan International Airlines (PIA) would return under new management, as the government formally signed transaction documents for the airline’s privatisation. Read More: Arif Habib consortium acquires stake in PIA privatization “PIA will reach new heights under the leadership of the Arif Habib Consortium. The airline […]
Aurangzeb admits firms leaving Pakistan over taxes and energy costs
Finance Minister Muhammad Aurangzeb on Wednesday acknowledged that several multinational companies (MNCs) have exited Pakistan in recent years due to high taxes and energy costs, but urged firms to modernise their business models rather than rely on decades-old practices. Read More: Finmin urges FBR to intensify enforcement, expand tax net Speaking at the Pakistan Policy Dialogue […]
Govt halts HBFC privatisation, reopens Roosevelt Hotel deal
ISLAMABAD: The government has halted the ongoing privatisation of House Building Finance Company Limited (HBFC) and reopened the process for the Roosevelt Hotel in New York, following a meeting of the Privatisation Commission Board chaired by the Adviser on Privatisation. Read More: HBFCL privatisation may start afresh Officials said the board reviewed key state-owned assets and decided […]
HBFCL privatisation may start afresh
The Privatisation Commission (PC) Board, in its 247th meeting held on Friday under the chairmanship of Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman, Privatisation Commission, took key decisions on privatisation of House Building Finance Company Limited, Roosevelt Hotel, New Islamabad International Airport and Power Distribution Companies (DISCOs) Batch II. House Building […]
PIA deal highlights risks in SOE strategy of Pakistan
The recent privatisation of Pakistan International Airlines (PIA) has reignited debate over the future of state-owned enterprises (SOE) strategy, raising questions about valuation, fiscal relief and the broader direction of economic reform. While the national carrier was sold for Rs135 billion to the Arif Habib Consortium, the government is set to receive only Rs10.2bn, prompting […]