Karachi, August 03, 2024: The Cabinet Committee on Privatisation (CCOP) has approved 24 entities for the Privatisation Programme 2024-29.
Chaired by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, the CCOP also decided to consider other State-Owned Entities (SOEs) for the programme after a review by the Cabinet Committee on State-Owned Enterprises (CCoSoEs) regarding the categorisation of Strategic/Essential SOEs.
The CCOP reviewed the privatisation policy guidelines and considered 84 SOEs from the federal footprint SOEs consolidated report FY2020-22, in accordance with the SOE Act and Policy.
The Ministry of Privatisation presented a phased Privatisation Programme (2024-29), based on recommendations from the PC Board, as per Section 5(b) of the Privatisation Commission Ordinance 2000.
The CCOP recommended prioritizing the reduction of the federal footprint in commercial space, limiting it to strategic and essential SOEs only. The committee noted that even profitable SOEs could be considered for privatisation.
Entities not categorized as strategic or essential will be reviewed for potential inclusion in the programme.
The CCOP also discussed transferring shares of the Oil and Gas Development Company Limited (OGDCL) held by the Privatisation Commission to a sovereign wealth fund or the Ministry of Energy (Petroleum Division).
Additionally, the CCOP approved the budget estimates for the Commission for the fiscal year 2024-25, amounting to Rs. 8,169 million.
Previously, the federal cabinet approved the privatisation of 13 entities under Pakistan’s Power Division, including nine power distribution companies. Sources revealed that out of the 11 government-owned power distribution companies, nine were included in the privatisation list, excluding Quetta Electric Supply Company and Tribal Electric Supply Company.
The cabinet also approved the inclusion of power generation companies (GENCOs) in the privatisation list.
