The federal cabinet has approved a plan to wind up the Pakistan Agricultural Storage and Services Corporation (PASCO) by December, marking a significant restructuring move in the country’s public-sector agricultural operations. Read More: Amid economic crunch, govt unveils ‘austerity measures’ According to official sources, the cabinet also approved a financial package for PASCO employees as […]
state-owned enterprises
Pakistan Railways report 2.41 billion rupee profit
Pakistan Railways has reported a major financial turnaround, posting a profit of 2.41 billion rupees in fiscal year 2024–25. The development marks the first time in years that the national rail operator has become profitable after facing heavy losses. Officials say the improvement reflects better revenue generation and cost control measures. According to a written […]
SOEs losses declining gradually; go down by Rs 74bn, says finmin
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb said here on Monday that financial losses of the State-Owned Enterprises (SOEs) have steadily declined over the past three years, falling by Rs74 billion during the period as part of the government’s ongoing reform and restructuring efforts. In a televised media message, the minister while commenting […]
State-Owned Enterprises and the Cost of a Failing Economic Model
The crisis of State-Owned Enterprises (SOEs) in Pakistan has moved far beyond the realm of technical inefficiency and entered the territory of structural economic failure. According to the Ministry of Finance’s Annual SOE Performance Review and recent IMF staff reports, Pakistan’s SOEs generated losses of Rs 833 billion in FY 2024-25, while their combined profits […]
Privatisation Commission seeks experts to speed up sell-offs
ISLAMABAD: Following the successful privatisation of Pakistan International Airlines (PIA), the Privatisation Commission has proposed hiring market-based experts to strengthen its institutional capacity and accelerate the government’s privatisation agenda over the next year. Read More: Open bidding for PIA privatisation today The proposal was shared during a briefing to the Senate Standing Committee on Privatisation on Friday, […]
Lessons from PIA’s privatisation go far beyond the sale price
The transfer of Pakistan International Airlines (PIA) to private ownership has been widely welcomed as a step toward reform. However, much of the debate has focused narrowly on the sale price, overlooking deeper structural and governance issues that shaped the outcome. A closer examination shows that privatisation did not create PIA’s massive financial burden but […]
PM Shehbaz stresses privatisation to boost economy
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 […]
PIA privatisation to create jobs, not cut staff, says Arif Habib
Arif Habib, chairman of the investment firm that acquired a controlling stake in Pakistan International Airlines (PIA), has said the airline’s privatisation will lead to job creation rather than layoffs, as the new owners plan to expand its operations. Read More: Arif Habib says no final decision yet on buying PIA’s remaining 25 shares Speaking on DawnNewsTV’s […]
PIA privatisation aims to restore airline’s lost glory: Tarar
Federal Information Minister Attaullah Tarar on Wednesday said the privatisation of Pakistan International Airlines (PIA) marks the beginning of a journey to restore the national carrier’s lost glory and end years of financial strain on the public exchequer. Addressing a press conference in Islamabad alongside Adviser on Privatisation Muhammad Ali, Tarar termed the transaction a […]
Arif Habib consortium wins PIA privatisation with Rs135bn bid
ISLAMABAD: The Arif Habib consortium on Tuesday emerged as the successful bidder for Pakistan International Airlines Corporation Ltd (PIACL) after offering Rs135 billion in an open auction, marking Pakistan’s first major privatisation in nearly two decades. Read More: PIA Deal at 135 Billion: Reform, Risk, or Ruin? The bidding process moved to an open […]