Day: February 6, 2025

ISLAMABAD: Prime Minister Nawaz Sharif chaired a review meeting on the task management system established for the privatization process of the state-owned enterprises (SOEs) and its monitoring.

The prime minister while chairing the review meeting here at the Prime Minister’s Office underlined that privatization of state-owned enterprises was part of the government’s Uraan Pakistan economic reform and transformation initiative.

Prime Minister Muhammad Shehbaz Sharif on the occasion emphasised that everyone would have to work together for the development of Pakistan. “I will not allow further losses in SOEs that are wasting the valuable resources of the Pakistani people.

The government’s job is not to do business, but to provide policy measures and facilities for business and investment,” the prime minister said.

He added that the government was rapidly heading towards improving the economy with timely and necessary reforms.

The privatization process of the designated institutions should be accelerated without compromising on transparency, the prime minister said.

Prime Minister Sharif directed to hire services of lawyers of good reputation to remove legal obstacles in the privatization process. “I am personally monitoring the privatization process, no kind of delay will be accepted,” he said.

During the meeting, the Prime Minister was presented with a review of the task management system created for privatization.

The meeting was also informed about the specific period for privatization of various institutions. The meeting was informed that the privatization of federal government institutions was divided into three phases.

In the first phase, ten institutions would be privatized, in the second phase, thirteen, while in the third phase, the privatization of the remaining institutions would be ensured.

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