ISLAMABAD: The federal government is planning to privatize 31 state owned entities within one and a half year time, aiming at transforming them into profitable organizations and strengthening the national economy, officials said. Pakistan International Airlines‚ Oil and Gas Development Company Limited‚ Pakistan Petroleum Limited and Pakistan Shipping Corporation are top on the list.
The officials said that the government has asked Privatization Commission to start the process for sale of public sector entities through initial and secondary public offering and transfer of 26 per cent shares along with management control to the private sector.
Currently‚ there are 65 entities on the agenda for privatization. Of these thirty one units are on active list including Pakistan International Airlines‚ Oil and Gas Development Company Limited‚ Pakistan Petroleum Limited‚ Pakistan Shipping Corporation and some power distribution companies.
According to officials‚ the government is looking for strategic partners in disinvestment of state owned enterprises. Officials hope the disinvestment of the entities would help them perform in a better way with new technological innovations and management.
