Prime Minister Shehbaz Sharif on Tuesday emphasized that privatization of loss-making state-owned enterprises (SOEs) remains one of the government’s top priorities, highlighting the sale of 75 percent of PIA shares as a first step in a broader reform drive.
Chairing a high-level meeting on the affairs of the Privatization Commission at the Prime Minister House, the Prime Minister ordered that the pace of reforms within the Commission be further accelerated to ensure efficiency, transparency and credibility in the privatization process.
Those gathered were informed that the privatization of the electricity distribution companies (DISCO) is planned in two initial batches.
In the first batch, Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO) will be privatized.
The second batch will include Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO).
The Prime Minister emphasized that the Privatization Commission must be strengthened by bringing in the best talent available from the private sector and the market.
He directed that all appointments be made in a highly transparent manner. Emphasizing the need for modern governance practices, he also led the complete digitalization of the Privatization Commission.
The prime minister further ordered that all privatization projects be subject to third-party audits by companies of international repute.
Agricultural exports
The prime minister directed the authorities concerned to formulate a comprehensive five-year strategy to boost agricultural exports.
He highlighted that reforming the agricultural sector and educating farmers about international standards were the government’s top priorities.
The prime minister was chairing a meeting of a working group made up of private sector experts.
“The federal government, within its own jurisdiction, is undertaking reforms in the agricultural sector and, in collaboration with provincial governments, is taking steps to promote agricultural development,” the prime minister said.
He added that the government was taking steps to increase per acre yield of crops by providing farmers with standard seeds, fertilizers and pesticides in a timely manner and at affordable prices.
