PM urged seamless interdepartmental coordination to accelerate the privatization program, insisting every stage be completed efficiently and without avoidable bureaucratic delays
By Pervaiz Mughal
ISLAMABAD: Prime Minister Shehbaz Sharif chaired a high-level meeting in Islamabad on Monday to review the government’s privatization program and directed all ministries and relevant institutions to meet the targets and timelines set for the disposal of state-owned enterprises.
The prime minister stressed that coordination between government departments remained essential to complete every stage of the process without unnecessary delays. He said the privatization program should move forward according to schedule, but added that strategic public interests must not be compromised.
PM Shehbaz gave particular attention to the proposed privatization of Zarai Taraqiati Bank Limited (ZTBL), saying its restructuring should protect the bank’s original mandate of supporting the agricultural sector. He directed officials to ensure that the bank continued to provide agricultural credit and financial assistance to small and medium-sized farmers even after its transfer to private ownership.
The prime minister said farmers’ access to affordable financing remained critical for increasing per-acre crop productivity, strengthening agricultural output and supporting Pakistan’s long-term economic growth. He also described agriculture as a cornerstone of the country’s food security and broader economic stability.
During the meeting, the Ministry of Privatization presented a detailed briefing on the overall program, outlining progress made in the disposal of state-owned institutions and the roadmap for the coming phases. Officials informed the prime minister that 27 state-owned enterprises had been placed on the privatization agenda, which was being implemented in three phases.
The meeting was told that the financial closing stage for the privatization of Pakistan International Airlines (PIA) and the First Women Bank had already been completed. Officials said the first financial closing for PIA, along with the transfer of administrative control, had been completed on June 29, 2026, marking a significant milestone in the government’s wider reform agenda.
The prime minister was also briefed on the privatization of Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO). Officials said Expressions of Interest had already been advertised for all three electricity distribution companies. The deadlines for investor submissions had been fixed as August 7 for FESCO, August 21 for GEPCO and September 7 for IESCO.
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