14 State Owned Enterprises Including Railways, PIA and PSM Removed from The Privatization List

privatization list

The government has taken the decision and has removed fourteen state-owned enterprises (SOEs) from the privatization list. The SOEs removed included Pakistan International Airlines (PIA), Pakistan Steel Mills (PSM) and Pakistan Railways. This was informed to the Senate Standing Committee on Privatization on Tuesday.

The other SOEs removed from the list are:

  1. National Bank of Pakistan (NBP)
  2. Sui Northern Gas Pipeline
  3. Pakistan State Oil Company
  4. Civil Aviation Authority
  5. Sui Southern Gas Pipeline
  6. National Logistic Company
  7. Printing Corporation of Pakistan
  8. National Highway Authority
  9. Trading Corporation of Pakistan
  10. Industrial Development Bank
  11. Utility Stores

The meeting was headed by the Senator Mir Muhammad Yousuf Badini.

It was informed to the committee that the government would be privatizing eight SOEs on a priority basis which includes:

  1. First Women Bank
  2. SME Bank
  3. Haveli Bahadur Power Plant
  4. Lakhra Coal Mines
  5. Jinnah Conventional Centre Islamabad
  6. Parri Petroleum
  7. Services International Hotel Lahore

The committee was briefed that the government would be privatizing these SOEs after they are placed in profit so that the government could get a good amount of share.

Mian Muhammad Soomro—the Minister for Privatization on the occasion said that there was a threat of piling up circular debt on the SOEs, hence the decision to privatize them on priority.

Senator Farooq H Naik was of the opinion that the First Women Bank should not be privatized as it was a symbol of support to women from the government.

The meeting was also given a briefing in detail regarding the process of the privatization of K Electric.

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