Islamabad – February 6, 2025: Prime Minister Muhammad Shehbaz Sharif has reaffirmed his commitment to Pakistan’s economic progress, emphasizing that all stakeholders must work together to ensure sustainable development.

Chairing a high-level review meeting on the privatization of state-owned enterprises (SOEs) in Islamabad today, the Prime Minister stated that he would not allow further wastage of Pakistan’s valuable resources in loss-making institutions. He reiterated that the privatization of national institutions is a core component of the government’s “Uraan Pakistan” initiative.

Government’s Role is to Facilitate, Not Run Businesses

PM Shehbaz stressed that the government’s role is to create policies and provide an investment-friendly environment rather than directly running businesses. He emphasized that timely and necessary reforms are essential for rapid economic improvement.

“The privatization of designated institutions must be expedited without compromising transparency,” he asserted, directing authorities to ensure an efficient and accountable process.

Three-Phase Privatization Plan

During the briefing, the Prime Minister was presented with an overview of the newly developed Task Management System for privatization. Officials outlined a structured three-phase approach:

Phase 1: Privatization of ten institutions

Phase 2: Privatization of thirteen institutions

Phase 3: Privatization of remaining institutions

PM Shehbaz instructed that all legal challenges hindering the privatization process should be addressed by engaging reputable legal experts. He also made it clear that he is personally monitoring the process and will not tolerate any delays.

To enhance oversight, the Prime Minister reviewed the Task Management Dashboard, which has been developed to track the privatization process in real time.

The meeting was attended by Federal Ministers Abdul Aleem Khan, Muhammad Aurangzeb, Rana Tanveer Hussain, Ahsan Iqbal, and other senior officials.

Swift Reforms Key to Economic Growth

The Prime Minister reiterated that swift and strategic reforms are the only way to ensure long-term economic stability. He urged authorities to complete the privatization process within the stipulated timeframe while maintaining the highest standards of transparency.

With these decisive steps, the government aims to create a more efficient and investment-friendly economic environment, ensuring that state resources are utilized effectively for national progress.