ISLAMABAD: Federal Minister for Privatisation Abdul Aleem Khan said that the federal government has decided to privatise 24 state-owned enterprises (SOEs) in three phases in five years. In written reply to a question to the National Assembly, the minister presented the detailed privatisation roadmap before the House on Thursday.
He said that the plan outlines that 10 entities will be privatised in the first year, followed by 13 more over the next one to three years. He said that the privatisation of one remaining entity is expected to take between three to five years.
He said that the first phase will include the privatisation of Pakistan International Airlines (PIA), Roosevelt Hotel, the Zarai Taraqiati Bank Limited (ZTBL), PIA-IL (Roosevelt Hotel, New York), First Women Bank Limited (FWBL), House Building Finance Corporation, Pakistan Engineering Company (PECO), Sindh Engineering Limited (SEL), Islamabad Electric Supply Company Limited (IESCO), and Faisalabad Electric Supply Company Limited (FESCO).
Govt aims to privatise up to 50 SOEs in next 3-4 years: minister
Minister Khan further revealed that in the second phase, 13entities will be privatise including the Utility Stores Corporation and four generation companies (GENCOs), Gujranwala Electric Power Company Limited (GEPCO), Pakistan Re-Insurance Co Ltd (PRCL), State Life Insurance Corporation (SLIC), Jamshoro Power Company Ltd, Central Power Generation Co ltd (CPGCL), Northern Power Generation Co Ltd (NPGCL). Lakhra Power Generation Co ltd (LPGCL), Lahore Electric Supply Company Limited (LESCO), Multan Electric Power Compnay Limited (MEPCO), Hazara Electric Supply Company Limited (HAZECO), Hyderabad Electric Supply Company Limited (HESCO), Peshawar Electric Supply Company Limited (PECSO and Sukkur Electric Power Company Limited (SEPCO) for privatisation.
The minister said that the move is part of the government’s broader economic reform agenda aimed at improving efficiency and reducing the financial burden of loss-making public enterprises. In written reply to a question, Minister for Finance and Revenue Senator Muhammad Aurangzeb said that inflation averaged at 4.5 per cent for FY2025 which is substantial drop from 23.4 per cent during FY2024.
He said that the recent inflation for July FY2026 was stood at 4.1 per cent compared to 11.1 per cent same month last year. He said that the government has a comprehensive plan to tackle inflation and stabilise the prices of essential goods by taking administrative, policy and relief.
He said that in budget 2025-26, government has increased its support for low-income families by expanding funding for social welfare programmes. He said that a total of Rs 716 billion has been allocated for the Benazir Income Support Programme (BISP), reflecting a 21 percent increase compared to the previous year.
Copyright Business Recorder, 2025