ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif has reiterated that addressing the financial struggles of loss-making state-owned enterprises (SOEs) through privatization will be a cornerstone of the government’s economic strategy.
In a meeting held in Islamabad, he emphasized the urgent need to revamp and privatize underperforming state entities, which he described as a top priority for the administration.
The Prime Minister talked about the the successful privatization of 75 percent of the shares of Pakistan International Airlines (PIA), calling it a vital first step in the government’s broader strategy to reduce the burden of loss-making enterprises on the national economy.
He said this was only the beginning of a more comprehensive effort to modernize and streamline state-owned enterprises.
Sharif instructed officials to prioritize the digitization of the commission’s operations. He emphasized the need to accelerate the ongoing reform processes, ensuring that the Commission becomes more transparent and efficient in its operations.
He also directed that the best talent from the private sector be recruited to the Privatization Commission. He called for appointments based on merit and transparency, stressing that the involvement of experienced professionals from the market would strengthen the Commission’s capacity to drive successful privatization initiatives.
In addition, the prime minister directed improvements in the Public Relations and Marketing Department of the Privatization Commission. He urged that the Commission’s efforts be effectively communicated to the public, ensuring that citizens are well-informed about the government’s initiatives and progress in this crucial area.
