Prime Minister Shehbaz Sharif chairs a meeting of the Task Force on Agricultural Reforms at the Prime Minister House on Tuesday. Photo: APP
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 per cent of PIA shares as a first step towards 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.
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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 phase 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.
He also called for a significant improvement in the Commission’s public relations and marketing functions to ensure effective communication with stakeholders and the market.
The meeting was briefed on the ongoing reform initiatives at the Privatization Commission.
Briefing participants stated that market advisors would be hired in key areas such as finance, human resources, law, information technology and media management.
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In addition, consultants specializing in strategy, policy, transactions and the energy sector would be hired to support the Commission’s mandate.
The Prime Minister was informed that the reforms are based on strategic discipline, strong governance, enhanced institutional capacity and transparent engagement with stakeholders.
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 to 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.
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He added that the government was taking steps to increase crop yield per acre by providing farmers with standard seeds, fertilizers and pesticides in a timely manner and at affordable prices.
The prime minister noted that the government was also taking policy-level measures aimed at processing agricultural produce into export-ready products.
Recently, he said 1,000 Pakistani students had been sent to China at government expense for training in modern agricultural technology. Pakistan has great potential in the agricultural sector, the Prime Minister said, adding that within the available resources, investments are being made in research for agricultural development to increase the yield per acre.
