Working on ‘unfinished’ privatisation of entities: Fawad

ISLAMABAD: Caretaker Federal Minister for Privatisation Fawad Hassan Fawad on Thursday rejected propaganda being spread about the privatization of state-owned institutions.

He said that the caretaker government is acting within its mandate to complete the work that was started by the previous government and that it is committed to reducing the burden on the common man.

Fawad also said that we have not used power according to our whims and wishes. “The previous government has given all powers to the caretaker government,” added the minister.

Read more: Pakistan drafts policy for state entities before possible privatisation

Separately, Pakistan’s caretaker government has drafted a preliminary policy for State Owned Entities (SOEs), and listed ten companies for privatisation initiatives or turnaround, said Caretaker Finance Minister Shamshad Akhtar during a press conference on Thursday.

Under the current $3 billion bailout package from the International Monetary Fund (IMD), which was critical in averting a sovereign debt default, losses in SOEs, which are burning a hole in government finances, will need stronger governance.