No such thing as strategic state-owned enterprises, says Finance Minister Aurangzeb

Finance Minister Muhammad Aurangzeb on Sunday said that there was “no such thing” as strategic state-owned enterprises (SOEs) as he stressed the need for privatisation. He made the remarks at a pre-budget conference in Lahore, two days after Deputy Prime Minister Ishaq Dar said the government would limit its business only to strategic and essential SOEs under its domain but their number would be reduced from 40 after scrutiny. Chairing the Cabinet Committee on Privatisation (CCoP) meeting, which was attended by the finance minister, Dar said privatisation of loss-making SOEs would be a priority. The meeting noted that 40 SOEs were currently categorised as strategic or essential, but respective ministries would submit their details to the Cabinet Committee on State-Owned Enterprises (CCoSOE). The CCoSOE will determine the status of the SOEs to be categorised as strategic or essential entities.