The federal government has unveiled a new plan to privatise several state-owned entities as part of its broader right-sizing policy aimed at reducing the size and expenses of the federal government. The Prime Minister has instructed the Ministry of Privatisation and the Ministry of Industries and Production to oversee the implementation of this plan.
According to reports, the entities slated for privatisation include:
- Pakistan Stone Development Company
- Pakistan Automobile Corporation
- Pakistan Institute of Management
- Khadi Crafts Development Company
- Agro Food Processing Facilities
- Leather Crafts Development Company
- Morafco Industries
- Southern Punjab Embroidery Industry
- Gujranwala Business Centre
Additionally, the Pakistan Chemical and Energy Sector Skill Development Company and Spin Yarn Research and Development Company are also being considered for privatisation.
The federal government’s priority will be the privatisation of these entities, with liquidation being considered as an alternative option. Mergers and other cost-reduction strategies are also under consideration to downsize the federal structure.
The Right-Sizing Committee, led by Finance Minister Muhammad Aurangzeb, has been formed to spearhead these efforts, which aim to streamline government operations and reduce financial burdens.
