Islamabad: The Special Investment Facilitation Council (SIFC) is prioritizing the transparent privatization of critical government departments, adhering to international standards, to address financial deficits and enhance public welfare measures.
According to Ministry of Information and Broadcasting, the first phase of this privatization initiative targets major entities such as Pakistan International Airlines (PIA), various Distribution Companies (DISCOs), and the First Women Bank among others. The move comes as these entities have accumulated significant financial liabilities, with PIA’s debts soaring from 200 billion rupees to 830 billion rupees. Similarly, the DISCOs have reported losses exceeding 376 billion rupees.
By streamlining these sectors through transparent privatization processes, the government aims to alleviate the fiscal burden on the national exchequer, thus freeing up resources to enhance public welfare initiatives.