Federal govt plans to privatize 31 state entities in 18 months. PIA, OGDCL and PSC top on the list

BusinessFederal govt plans to privatize 31 state entities in 18 months. PIA,...

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.

Must read

Recent News

Child Protection Institute resolved 258 cases of child protection since 2021

0
ISLAMABAD, Pakistan: The Child Protection Institute (CPI), Ministry of Human Rights, has dealt with 260 cases of child protection since its inauguration in June...

IPO to celebrate World Intellectual Property Day on April 26

0
ISLAMABAD, Pakistan: The annual World Intellectual Property Day, observed on April 26, is set to focus on the theme "IP and SDGs: Building Our...

Speakers demand informed policy endeavours to facilitate elderly population of Pakistan

0
ISLAMABAD, Pakistan: The HelpAge International has organized stakeholder dialogue on World Health Day to mull over suggestions to improve and guide policy endeavours to...

Interbank Dollar Rate Today in Pakistan – 24 April 2024

0
Interbank Exchange Rates in Pakistan The Interbank Closing Exchange Rate in Pakistan has been issued by the State Bank of Pakistan (SBP) for April 24,...

Ambassador Suljuk Mustansar Tarar visits Netherlands’ DRU Industrial Park to explore avenues for cooperation

0
Pakistan’s Ambassador to the Netherlands Suljuk Mustansar Tarar on Wednesday visited the DRU Industrial Park in Ulft town and had a productive meeting with...
Advertisement