Prime Minister Shehbaz Sharif termed the successful privatisation of 75% of PIA shares as the 'first drop of rain'.
He directed the Privatisation Commission to accelerate reforms and stated that the privatisation of loss-making state-owned enterprises remains a top priority.
An important meeting of the Privatisation Commission was held in Islamabad under the chairmanship of Prime Minister Shehbaz Sharif. The Prime Minister instructed that the Commission should include competent individuals from the private sector and emphasised that all appointments must be made on a strictly merit-based and transparent basis. He also directed that the Privatisation Commission be digitalised and that all privatisation projects undergo third-party audits by firms meeting international standards.
He added that the public relations and marketing division of the Privatisation Commission should be further strengthened. During the briefing, it was stated that the privatisation of electricity distribution companies has been planned in two initial batches.
The first batch will include Islamabad, Gujranwala, and Faisalabad Electric Power Companies, while the second batch will comprise Hyderabad Electric Supply Company and Sukkur Electric Power Company.
Finance, HR, legal, IT, and media advisors for the Privatisation Commission will be hired from the market, while consultants for strategy, policy, transactions, and the power sector will also be appointed from the private sector.
