Pakistan’s privatization roadmap witnessed a major shake-up on Monday as the Privatization Commission Board approved significant restructuring of the National Privatization Program.

The changes include dropping two major SOEs from the list while adding three new entities considered viable for future transactions.

The 243rd meeting of the Privatization Commission Board was chaired by Adviser to the prime minister on Privatization and Chairman Privatization Commission, Muhammad Ali.

During the session, the board reviewed recommendations prepared by the Investment Committee after assessing 15 state-owned enterprises referred by various ministries.

The Board approved the inclusion of Saindak Metals Limited, Pakistan Minerals Development Corporation, and National Insurance Company Limited in the active privatization program.

Two SOEs removed from list

At the same time, the Board recommended the delisting of Utility Stores Corporation and Sindh Engineering Limited, signaling a shift in the government’s priorities. According to the notification, both entities were deemed unsuitable for privatization at this stage.

Investment committee’s evaluation

The Investment Committee conducted a detailed review of 15 SOEs. Out of these, 12 enterprises were found non-viable for privatization based on transaction readiness and financial suitability.

The board stressed that only viable, transaction-ready entities would be added to the privatization pipeline. This direction aligns with the government’s policy of avoiding stalled or unfeasible privatization attempts.

Ministries have been advised to explore alternative restructuring models — including liquidation — for entities that do not meet the criteria for privatization. The board believes this approach ensures better financial discipline and prevents unnecessary delays.