Islamabad: Minister for Privatization Abdul Aleem Khan has called for a swift and transparent privatization process, emphasizing its importance for Pakistan’s economic development.
According to Ministry of Information and Broadcasting, during a meeting of the Privatization Commission Board held today, Minister Khan highlighted the pivotal role of privatization in enhancing the country’s economic landscape. He pointed out that enterprises moving to the private sector are likely to see increased profitability and improvements in efficiency and service delivery.
Minister Khan stressed the necessity of meeting all privatization deadlines, asserting that the Cabinet Committee on Privatization would give the final approvals. The board meeting resulted in the approval of the privatization strategy for power distribution companies (DISCOs), including the appointment of financial advisers to oversee the process.
The plan includes completing all legal formalities by January of the next year, with the privatization of three companies slated for the first phase. This strategic move aims to bolster the operational capabilities and financial health of these entities, ultimately contributing to the national economy.