Are 24 SOEs going to be under the hammer?
Business
Meeting stresses privatisation of profit-making entities as well
ISLAMABAD (Dunya News) - Deputy Prime Minister Ishaq Dar on Friday presided over the meeting of the Cabinet Committee on Privatisation (CCOP) to discuss the government’s ambitious privatisation programme for the period 2024-29.
The meeting approved the privatisation of 24 public sector enterprises.
It was also decided that additional public firms will be established for privatisation following a review by the Cabinet Committee on State-Owned Enterprises (SOEs).
The review will mull classification of SOEs as either “strategic” or “essential”.
The Ministry of Privatisation also presented a phased privatisation programme (2024-29) to the CCOP which was premised on the recommendations of the Privatisation Commission’s board.
The CCOP suggested that priority must be given to reducing the federal clout in commercial matters and limiting it only to the strategic and essential SOEs.
The committee stressed that even SOEs making reasonable profits would also be considered for privatisation.
The meeting reflected on privatisation policy guidelines, evaluating 84 SOEs listed in the ‘Federal Footprint’ State-Owned Enterprises Consolidated Report for fiscal years 2020-22 vis-a-vis the SOE Act and Policy.
The CCOP also weighed up the proposal for transferring shares of the Oil And Gas Development Company Limited (OGDCL) lying with the Privatisation Commission to a sovereign wealth fund or the Ministry of Energy.
The committee also approved the budget for the Privatisation Commission for FY25, which was approximately Rs8.17bn.
