Pakistan pursues privatisation and reforms to boost state-owned enterprises: Mohammad Aurangzeb

ISLAMABAD: Finance Minister Mohammad Aurangzeb outlined efforts to improve the performance of state-owned enterprises, reduce losses, and promote transparency across sectors. Speaking to the media, he said that while some companies have seen a decline in profits, measures have been taken to strengthen governance and streamline operations.

He confirmed that certain loss-making institutions have either been closed or are in the process of being shut down. Employees of these entities have been provided with compensation packages to ease the transition. “Our priority is to close continuously loss-making organisations while ensuring staff are supported,” he said.

Aurangzeb highlighted ongoing privatisation efforts, noting that public sector institutions such as the national airline and First Women Bank were successfully privatised with full transparency. “We are moving forward with privatisation in a transparent manner and will continue to uphold accountability in all such processes,” he added.

The finance minister pointed to progress over the past three years, saying that losses in several state-owned entities have declined, and key economic indicators are moving in a positive direction. He emphasised that reforms are being implemented across different sectors to ensure efficiency, transparency, and better governance.

“Our focus remains on improving the performance of government-owned organisations and introducing reforms in every sector to strengthen the economy,” Aurangzeb said. “We are committed to institutional reforms that create a sustainable and accountable framework for growth.”

He concluded by reiterating that steps taken under the economic reform agenda aim to ensure transparency in every area of public sector operations while supporting privatisation and efficiency improvements.