Islamabad: Prime Minister Shehbaz Sharif has instructed relevant authorities to adhere to the timelines set for the privatization programme of state-owned enterprises, emphasizing the need for coordinated efforts to ensure the timely completion of each phase.

According to Radio Pakistan: During a meeting held in Islamabad to assess the progress of privatization efforts, the Prime Minister reiterated the importance of meeting all targets, particularly in the privatization of Zarai Taraqiati Bank Limited (ZTBL). He stressed that the bank’s core mission of supporting the agricultural sector must remain intact post-privatization, ensuring continued access to financial resources for small and medium-sized farmers. This, he said, is crucial for boosting crop yields and supporting Pakistan’s economic growth and food security.

The meeting provided insights into the inclusion of 27 state-owned enterprises in the privatization agenda, divided into three phases. Notably, the financial closing for Pakistan International Airlines (PIA) and the First Women Bank has been completed, with PIA’s management transfer finalized on June 29.

Progress was also reviewed on the privatization of several power distribution companies, including Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO). Expressions of Interest have been invited, with submission deadlines set for August and September.

The meeting also touched upon the privatization of major airports, with the Prime Minister calling for continuous monitoring to ensure that all initiatives remain on schedule.