On Sunday, the federal government announced plans to privatise additional state-owned enterprises (SOEs) as part of its ongoing rightsizing policy. Prime Minister Shehbaz Sharif has directed the Ministry of Privatisation and the Ministry of Industries and Production to proceed with the privatisation of various entities.
Among the SOEs marked for privatisation are the Pakistan Stone Development Company and Pakistan Automobile Corporation, as outlined by the Ministry of Industries and Production. Proposals have also been finalized for the privatisation of several other entities, including the Pakistan Institute of Management, Khadi Crafts Development Company, Agro Food Processing Facilities, Leather Crafts Development Company, Morafco Industries, Southern Punjab Embroidery Industry, and Gujranwala Business Centre.
Additionally, the government plans to privatise the Pakistan Chemical and Energy Sector Skill Development Company and Spin Yarn Research and Development Company. The primary focus of the federal government is the privatisation of these entities, but as an alternative option, liquidation of the departments is also being considered.
A high-powered Right-Sizing Committee, chaired by Finance Minister Muhammad Aurangzeb, has been formed to explore various measures aimed at reducing the size and expenses of the federal government. These measures include closing, merging, or privatising departments to streamline operations.
