- Reuters
- Yesterday
Govt approves five-year privatisation plan for 24 institutions
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- Web Desk
- Aug 15, 2024
WEB DESK: The Federal Cabinet has ‘approved’ a five-year privatisation programme, according to sources. The programme, spanning from 2024 to 2029, will involve the privatisation of 24 institutions, with more entities expected to be included in the future.
The privatisation process will be executed in three phases. The initial phase will focus on the privatisation of the Pakistan International Airlines (PIA) and the House Building Finance Corporation. Additionally, the privatisation of government electricity distribution and production companies will be undertaken.
In the first phase, the privatisation will target Faisalabad, Islamabad, and Gujranwala electric power companies.
The second phase will include the privatisation of Lesco, Mepco, Pesco, Hesco, Sepco, and Hesco. Utility Stores Corporation and State Life Insurance Corporation are also slated for privatisation, as well as the Pakistan Reinsurance Company.
A comprehensive privatisation plan for the approved institutions will be presented to the Cabinet for further consideration, according to sources.
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