ISLAMABAD: The Cabinet Committee on Privatization (CCOP) has approved the inclusion of 24 entities in the Privatization Programme (2024-29). The decision to incorporate additional State-Owned Entities (SOEs) into the program will be made after a review by the Cabinet Committee on State-Owned Enterprises (CCoSoEs) regarding the categorization of Strategic/Essential SOEs.
On Friday, the CCOP, chaired by Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, deliberated on the privatization policy guidelines. The committee reviewed 84 SOEs listed in the federal footprint SOEs consolidated report FY2020-22 in detail, in accordance with the SOE Act and Policy.
The meeting included Finance Minister, Minister for Privatization, Minister for Commerce, Minister for Power, Minister for Industries & Production, Minister of State for Finance and Revenue, as well as Federal Secretaries from various ministries and divisions.
The CCOP was presented with a phased Privatization Programme (2024-29) by the Ministry of Privatization, based on recommendations from the PC Board, as outlined in Section 5(b) of the Privatisation Commission Ordinance 2000.
The committee recommended prioritizing the reduction of the federal footprint in the commercial sector, limiting it to strategic and essential SOEs only. It was emphasized that even profit-making SOEs could be considered for privatization.
Entities not categorized as strategic or essential will be reviewed by the CCOP to decide on their inclusion in the programme.
The CCOP also reviewed the proposal to transfer the shares of OGDCL held by the Privatization Commission to either a sovereign wealth fund or the Ministry of Energy (Petroleum Division). It was decided to maintain the status quo for the time being.
Additionally, the CCOP approved the budget estimates for the Commission for the fiscal year 2024-25, amounting to Rs. 8,169 million.
In concluding the meeting, the chairman reaffirmed the government’s commitment to implementing the Privatization Programme with transparency, efficiency, and a comprehensive government approach. He emphasized the importance of support and cooperation from all stakeholders in executing the programme.
