Deputy Prime Minister Ishaq Dar chaired a crucial meeting to review the ongoing privatization process of various public sector entities, marking a significant step in the government's economic reform agenda.
Comprehensive Review of Privatization Progress
The high-level meeting conducted a thorough assessment of the current status of several state-owned enterprises slated for privatization. The session focused particularly on Pakistan International Airlines (PIA) and the Roosevelt Hotel in New York, both of which represent substantial assets in the government's privatization portfolio.
Officials from the Privatization Commission provided detailed briefings about each entity under consideration. The discussions centered on the preparatory work required to make these organizations ready for transfer to private ownership, including financial restructuring and operational improvements.
Key Entities Under Scrutiny
During the meeting, the Deputy Prime Minister received comprehensive updates on multiple public sector organizations. The First Women Bank Limited emerged as another significant entity in the privatization pipeline, with officials outlining the necessary steps to prepare the institution for private sector acquisition.
The review also encompassed several other government-owned enterprises, though specific names beyond PIA, Roosevelt Hotel, and First Women Bank were not detailed in the initial reports. The Privatization Commission representatives assured the Deputy Prime Minister that the process was moving forward according to the established timeline.
Strategic Direction and Future Steps
Deputy Prime Minister Dar emphasized the strategic importance of the privatization initiative for Pakistan's economic stability. He directed relevant authorities to accelerate the preparatory work and ensure all necessary measures are taken to facilitate smooth transitions for each entity.
The meeting concluded with a clear mandate for the Privatization Commission to maintain momentum in the process while ensuring transparency and compliance with all regulatory requirements. Officials were instructed to provide regular updates on the progress of each entity's privatization journey.
This comprehensive review signals the government's commitment to reforming public sector enterprises and attracting private investment to improve efficiency and reduce the burden on national resources.
