Pre-Qualification Process for PIA Sale Will be Completed By May-End

Prime Minister Muhammad Shahbaz Sharif chaired a meeting to review the affairs of the Ministry of Privatization and the Privatization Commission. During this session, the Roadmap of Privatization Program 2024-2029 was unveiled. The meeting was informed that the pre-qualification process for the privatization of Pakistan International Airlines (PIA) will be completed by the end of May. Also, consultations on the sale of the Roosevelt Hotel are ongoing. To ensure transparency, the Prime Minister mandated that the privatization process, including the bidding for PIA, be broadcast live. This live coverage will also extend to the stages of privatizing other institutions. The privatization program for 2024-2029 includes electricity distribution companies (DISCOs). The government is also negotiating with the United Arab Emirates to pawn off First Women Bank Limited. Meeting participants agreed that priority will be given to privatizing loss-making enterprises to enhance efficiency and reduce fiscal burdens. To facilitate this, a pre-qualified panel of experts will be on the Privatization Commission to accelerate the process. Prime Minister Sharif announced that all state-owned enterprises, except for strategic entities, would be privatized. This decision applies to both profit-making and loss-making enterprises. He emphasized that the government’s role is to create a business-friendly environment rather than operate businesses directly. Sharif highlighted the benefits of privatizing these enterprises, noting that it would save taxpayer money and improve the quality of public services. He directed all federal ministries to support and collaborate with the Privatization Commission to expedite the process. The meeting was attended by key ministers and senior government officials, including the Minister for Defense Khawaja Asif, Finance Minister Muhammad Aurangzeb, and others.