Govt unveils broader privatisation plan for state-owned enterprises

Pakistan will privatise all state-owned enterprises, with the exception of strategic entities, Prime Minister Shehbaz Sharif announced on Tuesday, broadening its initial plans to take only loss-making state firms private. The announcement came after PM Shehbaz headed a meeting on the privatisation process of loss-making state enterprises, according to a statement from his office. According to state-run Radio Pakistan, the premier said that the government’s job is not to do business but to ensure a business and investment friendly environment. Additionally, he directed all federal ministries to take necessary action in this regard and cooperate with the Privatisation Commission, with the meeting being informed that “privatisation of power distribution companies has been included in privatisation programme 2024-2029”.