Prime Minister Shehbaz Sharif stressed on Tuesday that privatization of loss-making state-owned enterprises (SOEs) remains a top priority for the government, highlighting the sale of 75 percent of PIA shares as a first step in a broader reform effort.
Chairing a high-level meeting on the affairs of the Privatization Commission at the Prime Minister’s House, the Prime Minister directed that the pace of reforms in the Commission be further accelerated to ensure efficiency, transparency and credibility in the privatization process.
The meeting was informed that the privatization of electricity distribution companies (DISCOs) is planned in two initial batches.
In the first batch, Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO) will be privatized.
The second batch will include Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO).
The Prime Minister emphasized that the Privatization Commission must be strengthened by deploying the best available talent from the private sector and the market.
He directed that all appointments should be done in a very transparent manner. He emphasized the need for modern government practices and also directed the complete digitization of the Privatization Commission.
The prime minister also ordered that all privatization projects be subjected to third-party audits by firms of international repute.
Agricultural exports
The Prime Minister directed the concerned authorities to formulate a comprehensive five-year strategy to increase agricultural exports.
He stressed that reforming the agricultural sector and training farmers in international standards were top priorities for the government.
The Prime Minister chaired a meeting of a working group consisting of experts from the private sector.
“The federal government, within its own jurisdiction, is implementing reforms in the agricultural sector and in collaboration with provincial governments, they are taking measures to promote agricultural development,” the prime minister said.
He added that the government took measures to increase the yield per hectares of the crops by providing farmers with standard seeds, fertilizers and pesticides timely and at affordable prices.
