Pakistan Government plans to privatise 33 state-owned entities which include six public sector enterprises (PSEs) in FY20

The funds collected as a result of the proceedings will be utilized on debt servicing and public welfare projects

Federal Minister/Chairman for Privatization, Muhammad mian Soomro and Special Assistant to the Prime Minister on Information and Broadcasting, Dr. Firdous Ashiq addressing a press conference in Islamabad on January 29, 2020.

The Pakistani Government announced a program to privatise 33 state-owned entities, which include six public sector enterprises (PSEs) during the year 2020, on Wednesday.

Auctions For 27 State-Owned Properties:

Main Muhammad Soomro, the Privatisation Minister, said the Government would open auctions for 27 state-owned unproductive properties.

The Privatisation Minister told a news briefing that they planned to privatise the SMEs bank, First Women Bank, two RLNG power plants including Haveli Bhadar Shah and Balloki, Mari Petroleum Company Limited, Services International Hotel Lahore and Jinnah Convention Centre Islamabad.

Firdous Ashiq Awan, special assistant to Prime Minister on information and broadcasting and Rizwan Malik, secretary privatization, also attended the briefing.

Debt servicing:

The funds collected as a result of the proceedings will be utilized on debt servicing and public welfare projects.

According to Soomro, the Government had received 12 bids for privatisation of National Power Parks Management Company Limited (NPPMCL). The NPPMCL owns two power plants located at Balloki and Haveli Bahadur Shah, which have a combined generation capacity of 2,453 megawatts.

Foreign interest:

Investors from Japan, Thailand, the United Kingdom, and Malaysia have submitted their documents, which shows foreign investors are keen to invest in Pakistan.

The secretary of privatization, said that “Foreign investors from Dubai, Qatar and overseas Pakistanis had expressed interest in buying these properties,”

Along with auctioning 27 state-owned properties, the Government plans to divest up to 7% of its stakes in Oil and Gas Development Company (OGDC) and 10% shares of Pakistan Petroleum Limited (PPL).

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