PM calls for transparency, timely action in SOE privatisation process

ISLAMABAD: Prime Minister Shehbaz Sharif directed the authorities concerned to secure the best possible deal for the state-owned enterprises proposed for the privatisation, warning against any red tape or delay in the process.

The prime minister, chairing a review meeting on privatisation of SOEs, said that the process should prioritize national interest.

He directed to engage globally renowned experts in the process and called for a comprehensive strategy to take urgent measures for the capacity building of SOEs.

Warning against any institutional and administrative delays or red tape in the privatization process, Prime Minister Shehbaz said that he would personally monitor the privatisation process, with regular meetings to be held to review its progress.

At the meeting, the Prime Minister was briefed on the progress of privatizing 15 out of 24 SOEs.

The prime minister directed that the privatization of loss-making and inefficient state-owned enterprises, putting burden on the national exchequer, should be completed as soon as possible while avoiding administrative and institutional complexities.