The Special Investment Facilitation Council (SIFC) has selected four major oil and gas companies, along with the Roosevelt Hotel, to be prioritized for asset management under the Pakistan Sovereign Wealth Fund (PSWF). This decision is part of a strategic initiative aimed at optimizing state-owned enterprises (SOEs), according to a report by PressTonight.
The selected oil and gas firms—Oil & Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Pakistan State Oil (PSO), and Pakistan Refinery Limited (PRL)—are among the most profitable entities in the country. The prioritization was discussed during a sub-committee meeting on Monday, following a recent SIFC meeting convened under the prime minister’s direction. This earlier meeting included key government figures, such as the minister for privatization, the minister for power, the minister for petroleum, the minister of state for finance, and the national coordinator of the SIFC.
Sources indicate that the meeting also reached a consensus to identify 12 SOEs for the strategic initiative. While the four aforementioned companies and the Roosevelt Hotel are at the top of the list, other significant entities, including the Pakistan National Shipping Corporation (PNSC), National Bank of Pakistan (NBP), Karachi Port Trust (KPT), Sui Northern Gas, Sui Southern Gas, and State Life Insurance Company (SLIC), have been placed second in priority.
