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PTI decides to prepare new privatization policy

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News Desk |

The PTI government has decided to privatize 62 state-owned organizations and also announced to prepare new privatization policy in this regard. According to the details, in view of the decision, the cabinet secretary has sought complete data of all 62 organizations to immediately privatize the unfruitful institutions to avoid further financial loss, it is learnt. The policy to this effect will be presented in the parliament for debate.

Documents obtained through sources revealed that out of 62 organizations likely to be privatized, include Pakistan International Airline (PIA), Oil & Gas Development Corporation Limited (OGRA), Pakistan Telecommunication Limited (PTCL), House Building Finance Corporation (HBFC) and Industrial Development Bank.

The privatization of these organizations is set to decrease economic pressure on the country but is bound to increase political pressure on the incumbent government.

SME, First Women Bank, National Bank, National Investment Trust Limited, National Insurance Company, Pakistan Re-Insurance Company, State Life, TCP, PPL, PSO, Sui Northern Gas Company, Murree Petroleum, Government Bolding Pakistan Mineral Development, Lakhra Coal project, FESCO, IESCO, LESCO, GASCO and others power companies will also be privatized.

Many more industries are also likely to be privatized like State Engineering, Civil Aviation, Roosevelt Hotel, Pakistan Machine Tool, Pakistan Engineering Company, PIDC, Sindh Engineering, RML, Pakistan Steel, Pakistan Steel Fabrication, Utility Stores Corporation, Pakistan Industrial Centers, Port Qasim Authority, Karachi Port Trust (KPT), National Shipping Corporation, National Highway Authority (NHA), Pakistan Railways, Telephone Industry, National Book Foundation, PCP, NCL, Convention Centre and Services International Hotel Lahore.

Read more: Privatization of PIA and PSM: significance for Pakistan

The privatization of these organizations is set to decrease economic pressure on the country but is bound to increase political pressure on the incumbent government. Analysts, however, opine that since opposition is under pressure due to graft investigations against its leaders, PTI might not face much resistance in the implementation of its privatization policy.

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