PM Shehbaz directs completion of privatisation programmes according to agreed timelines

Prime Minister Shehbaz Sharif has directed officials to expedite the government's privatization program, emphasizing the need to complete all stages according to agreed-upon timelines. The directive came during a meeting in Islamabad focused on the privatization of state-owned enterprises.

During the review, Sharif instructed relevant ministries and institutions to enhance coordination to ensure all targets and deadlines for the privatization program are met. The meeting was attended by key figures including Deputy Prime Minister Muhammad Ishaq Dar and several federal ministers.

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It must be ensured that even after privatisation, the Zarai Taraqiati Bank’s focus on providing agricultural loans and financial resources to small and medium-scale farmers remains intact.

Particular attention was given to the privatization structure for Zarai Taraqiati Bank Limited (ZBTL). Sharif stressed that the structure must preserve the bank's core function of agricultural financing, ensuring continued support for small and medium-scale farmers. He highlighted the importance of agricultural development for Pakistan's economic growth and food security.

Officials reported progress on the privatization of Pakistan International Airlines (PIA) and First Women Bank, noting that their financial closing and management control transfers are complete. The meeting also covered the planned privatization of Islamabad Electric Supply Company (Iesco), Faisalabad Electric Supply Company (Fesco), and Gujranwala Electric Power Company (Gepco). Expressions of interest for these companies are due by August 7 for Fesco, August 21 for Gepco, and September 7 for Iesco. International companies have shown interest, with roadshows for investors currently underway.

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improving farmers’ access to financial resources was “essential” for increasing per-acre agricultural productivity, especially for small and medium-scale cultivators, adding that agricultural development remained critical to Pakistan’s economic growth and food security.