Govt to privatize 31 state-run units including PIA, Pakistan Steel Mills

BusinessGovt to privatize 31 state-run units including PIA, Pakistan Steel Mills

ISLAMABAD: Pakistan International Airlines (PIA) and Pakistan Steel Mills are among 31 public sector enterprises (PSEs), whose 26 percent shares will be privatized, the Cabinet committee for Privatization has decided.

The decision was taken at a meeting of the cabinet committee held in Islamabad with Finance Minister Ishaq Dar in the chair.

   

The sources said that the PSEs whose 26 percent shares will be floated by the government include PIA, Pakistan Steel Mills, power distribution companies and United Bank Limited (UBL). The administrative control of some of these organizations will also be handed over to the private sector.

It was also decided in the meeting that 26 percent more shares of UBL and Muslim Commercial Bank (MCB) held by the government will be sold.

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