Prime Minister Shehbaz Sharif on Tuesday emphasised that privatising loss-making state-owned enterprises (SOEs) remains a top government priority, highlighting the sale of 75 per cent of PIA shares as a first step in a wider reform drive.
Chairing a high-level meeting on the affairs of the Privatisation Commission at the Prime Minister’s House, the premier directed that the pace of reforms within the Commission be further accelerated to ensure efficiency, transparency and credibility in the privatisation process.
The meeting was informed that the privatisation of electricity distribution companies (DISCOs) has been planned in two initial batches.
In the first batch, Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO) will be privatised.
The second batch will include Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO).
The PM stressed that the Privatisation Commission must be strengthened by inducting the best available talent from the private sector and the market.
He instructed that all appointments be carried out in a highly transparent manner. Stressing the need for modern governance practices, he also directed the complete digitisation of the Privatisation Commission.
The prime minister further ordered that all privatisation projects be subjected to third-party audits conducted by firms of international repute.
Agricultural exports
The prime minister directed the authorities concerned to formulate a comprehensive five-year strategy to boost agricultural exports.
He stressed that reforming the agriculture sector and educating farmers on international standards were top priorities of the government.
The prime minister was chairing a meeting of a Working Group comprising private sector experts.
“The federal government, within its own jurisdiction, is undertaking reforms in the agriculture sector and, in collaboration with provincial governments, is taking measures to promote agricultural development,” the prime minister said.
He added that the government was taking measures to increase the per-acre yield of the crops by providing farmers with standard seeds, fertilisers and pesticides timely and at affordable prices.
