Islamabad: The Minister for Economic Affairs, Ahad Cheema, emphasized the government’s commitment to privatizing State-Owned Enterprises (SOEs) during a meeting with a World Bank delegation. This move is part of Pakistan’s broader economic reform strategy, with plans to privatize power distribution companies and Pakistan International Airlines in upcoming phases.

According to a statement by Press Information Department, the World Bank delegation’s visit underscores the institution’s confidence in Pakistan’s ongoing reforms and its partnership with the country. The visit aims to deepen understanding of Pakistan’s economic landscape and explore future development opportunities under the Country Partnership Framework for 2026-2035.

Minister Cheema detailed the government’s plan to privatize up to 50 SOEs over the next few years, addressing critical challenges in the power sector, such as high tariffs and line inefficiencies. The government is also focusing on digital transformation and has completed research on digitalization models, advancing towards comprehensive digitalization of institutions.

Efforts are underway to bolster youth employment and women’s empowerment, with successful technical training programs and significant budget allocations. Minister Cheema reported economic stability with low circular debt levels and a recovering currency, attributing these to effective government measures.

World Bank delegates commended Pakistan’s reform efforts and affirmed continued support, highlighting the importance of addressing challenges like climate change and gender equality. Minister Cheema expressed gratitude for the World Bank’s longstanding support, particularly in the wake of the COVID-19 pandemic and 2022 floods, stressing the need for a comprehensive strategy to achieve the new CPF’s goals.