Govt Adds 3 More SOEs to Active Privatization List

The Privatization Commission (PC) Board has recommended adding three state-owned enterprises (SOEs) to Pakistan’s active privatization program, while advising on the removal of two others, following a detailed review by its Investment Committee. At its 243rd meeting, chaired by Muhammad Ali, Adviser to the Prime Minister on Privatization and Chairman of the Commission, the Board approved the inclusion of Saindak Metals Limited (SML), Pakistan Minerals Development Corporation (PMDC), and National Insurance Company Limited (NICL) in the privatization pipeline. The decision comes after the Investment Committee evaluated 15 SOEs referred by various ministries, ultimately finding only these three suitable for privatization. The remaining 12 entities were deemed not viable for privatization and were excluded from the programme. The Board also recommended delisting Sindh Engineering Limited (SEL) and Utility Stores Corporation (USC). SEL has been non-operational since the 2007-08 fiscal year, with its only significant asset being land entangled in litigation. USC, meanwhile, has already ceased operations following a government decision, and its liabilities far exceed its assets. Reaffirming its commitment to transparency and market feasibility, the PC Board stated that the privatization programme will remain aligned with the government’s broader SOE reform and fiscal consolidation agenda. Only entities meeting strict viability and transaction-readiness criteria will be considered for privatization, while ministries may pursue alternative options, including liquidation, for SOEs not found suitable. The Board emphasized that this approach will ensure institutional resources are focused on credible, executable transactions that support national economic objectives.