The federal government has formally announced an ambitious three-phase plan to privatize 24 state-owned enterprises (SOEs), beginning with 10 major institutions including Pakistan International Airlines (PIA) and the Roosevelt Hotel (USA) within the next 12 months.
The plan was shared with the National Assembly in a written response, laying out timelines and targets for privatization aimed at streamlining public-sector efficiency and reducing fiscal burden.
Phase 1 – Within 1 Year
Privatization of the following 10 institutions:
- Pakistan International Airlines (PIA)
- Roosevelt Hotel (USA)
- Agricultural Development Bank
- Three DISCOs, including Islamabad Electric Supply Company (IESCO)
- Others unnamed in this phase
Phase 2 – Within 1 to 3 Years
Privatization of 13 institutions:
- State Life Insurance Corporation
- Utility Stores Corporation
- Four Gencos (Power Generation Companies)
- Six additional DISCOs, including Lahore Electric Supply Company (LESCO)
Phase 3 – Within 3 to 5 Years
- Postal Life Insurance Company
The Privatization Commission will supervise all activities under the program, working closely with relevant ministries and regulatory agencies to ensure transparency and compliance with legal procedures.
Parliamentary Oversight and Criticism
During the same session, National Assembly Speaker Sardar Ayaz Sadiq took strong exception to the absence of adequate responses from key ministries, particularly the Ministry of Finance and the Ministry of Planning.
“This Parliament is not to be taken lightly,” said the Speaker. “If needed, I will summon the Governor of the State Bank as well. This disregard for the House is unacceptable.”
Speaker Sadiq rejected a request from the Minister of State for more time to respond to members’ questions and instructed that the secretaries of both ministries appear before the House immediately.
