Islamabad: The federal government has introduced a comprehensive strategy to privatise additional state-owned entities as part of its right-sizing policy, as reported on October 1.
As per details, this initiative aims to streamline federal operations and reduce government expenditure, aligning with the directives of Prime Minister Shehbaz Sharif.
The Ministry of Privatisation and the Ministry of Industries and Production have been tasked with implementing the plan, which targets several key federal departments for privatisation.
Entities Slated for Privatisation:
Pakistan Stone Development Company
Pakistan Automobile Corporation
Pakistan Institute of Management
Khadi Crafts Development Company
Agro Food Processing Facilities
Leather Crafts Development Company
Pakistan Chemical and Energy Sector Skill Development Company
Spin Yarn Research and Development Company
The government’s primary goal is to privatise these entities, with liquidation as a secondary option if necessary. This move is expected to increase efficiency, reduce financial burdens on the government, and enhance the productivity of these sectors.
To ensure the smooth execution of this initiative, the Right-Sizing Committee, led by Finance Minister Muhammad Aurangzeb, will oversee the entire process. This committee will manage the transition and guarantee the successful completion of the government’s privatisation agenda.
