- Govt reveals five-year-old three-phase privatization cards.
- First phase to privatize 10 state -owned companies.
- Cabinet approves the inclusion of 24 SOEs in the program.
Islamabad: Minister of Privatization Abdul Aleem Khan on Thursday described in the National Assembly A Five-Year Plan (2024-29) to privatize 24 state-owned companies (SOEs) in three stages, The news reported.
The plan presented in the question in a written response to MNA Ramesh Lal included a complete list of devices intended for sale.
Under The First Phase, 10 Major Public Entities – Pakistan International Airlines (Pia), Roosevelt Hotel, Zarai Taraqiati Bank LTD (ZTBL), Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Corporation Limited (Fesco), Gujranwala Electric Supply Corporation Limited (GEPCO), Pakistan Engineering Company (Peco), Sindh Engineering Limited and First Women Bank Limited (FWBL) – will be privatized.
Under The Second Phase, Spanning One to Three Years, 13 Additional Entities-State Life Insurance Corporation, Utility Stores Corporation, Four Generation Companies (Gencos) Including Jamshoro Power Company LTD (JPCL) -Genco-1, Central Power Generation Company Ltd (CPGCL) -Genco-II, Northern Power Generation Company LTD (NPGCL) -Genco-III, Lakhra Power Generation Company LTD (LPGCL) -tenco IV and six additional discos, including Lahore Electric Supply Company (Lesco) (MEPCO), Hazara Electric Supply Corporation (HAZCO), Hyderabad Electric Supply Corporation (Hesco), Peshawar Electric Supply Corporation (PESCO) and Sukkur Electric Supply Corporation (SECPCO)-will be privatized.
The last phase, which spans three to five years, includes privatization of the postal insurance company.
The written response stated that at its meeting, which was held on August 2, 2024, the cabinet committee (CCOP) had approved the inclusion of 24 commercial state-owned companies (SOEs) in the privatization program 2024-29, and it was also steered by the federal cabinet on August 13, 2024.
In a written answer to a question, trade minister Jam Kamal Khan presented the details of the American interest in investing in mines and minerals, including copper.
While the US administration has imposed 50% duty for imports of copper, iron, steel and aluminum, refined copper is exempt from the 50% tariff. So in the current scenario, it will be more advantageous to export value added copper (refined) to the US market.
In another written response, the Federal Minister of Trade Jam Kamal Khan revealed that State Life Insurance Corporation had stopped providing health insurance services in Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan (GB) due to cessation of federal funding to the two regions.
When he spoke in the house during the questioning time, the Prime Minister for financing Bilal Azhar told Kayani National Assembly that the government will further reduce the energy riffs, which will lower the input costs for exporters.
To a matter of inflation, Azhar said the government had adopted a multidimensional strategy to limit inflation. A written response mentioned the recent inflation for July FY2026 amounted to 4.1% compared to 11.1% the same month last year.
Meanwhile, Parliament witnessed a heated session as Ayaz Sadiq expressed strong dissatisfaction with the sustained lack of response to the Ministry of Finance and the planning and the Ministry of Development to parliamentary queries.
The problem came up when ‘Answer not received’ was presented with a question asked by MNA Syed Rafiullah and another by Ali Muhammad Khan. Speaker Ayaz immediately convened the secretary financing and stated that he would also call the State Bank Governor.
“Parliament is being treated with complete ignoring – this is unacceptable,” the speaker noted in a strict decision. In a sign of protest, the speaker ordered the joint secretary financing to leave the officers lobby and declared that continued bureaucratic non-cooperation would no longer be tolerated. He also instructed the chairman of the Finance Committee to ensure the appearance of both the Financial Secretary and the State Bank Governor.
Ayaz also jumped out on the Ministry of Planning over delayed answers to parliamentary questions. Prime Minister Armaghan Subhani explained that the answer from the provinces was pending, causing the speaker to convene secretary planning. “Does it take a whole year to answer a question?” he asked, rejecting the prime minister’s request for another week.
Law Minister Azam Nazeer Tarar offered an unconditional apology on behalf of the absent federal secretaries.
