Islamabad: The Privatisation Commission has set a target of privatising a dozen state-owned entities (SOEs) – including Pakistan Steel Mills – by the end of the next fiscal year, according to news sources.
As per the details shared, aside from Pakistan Steel Mills (PSM), the SOEs already in the advanced stages of privatisation include SME Bank, Jinnah Convention Centre, First Women Bank Limited, and House Building Finance Corporation Limited. The commission has projected an accumulative revenue of PKR 252 billion that’s expected to be generated from the privatisation of SOEs in the existing fiscal year.
The government intends to privatize the steel mill and Jinnah Convention Centre in the fourth quarter of the current fiscal year (FY 2021-22). The privatisation of the House Building Finance Corporation (HBFC) and First Women Bank Limited (FWBL) is expected to be completed by December 2022.
Reputedly, the incumbent government had put out a total of 21 SOEs in the list of entities being actively privatized, few of which – including Services International Hotel – have been sold off in the last three years.
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