ISLAMABAD: Prime Minister Shehbaz Sharif chaired a high-level review meeting in Islamabad on Monday, directing relevant ministries and institutions to ensure the completion of all stages of the government’s privatisation programme within prescribed timelines. Emphasizing close inter-ministerial coordination, the premier stressed that state-owned enterprise (SOE) reforms remain central to the country’s economic strategy.
Officials briefed the premier that the financial closing process and the transfer of management control for Pakistan International Airlines (PIA) were successfully finalized on June 29, alongside completion for the First Women Bank. Progress regarding the privatization of Iesco, Fesco, and Gepco was also reviewed, with international investors showing strong interest and Expressions of Interest (EOIs) deadlines set for August 7 (Fesco), August 21 (Gepco), and September 7 (Iesco), offering investors 51% to 100% shareholding with management control. Highlighting agricultural priorities, PM Shehbaz instructed that the transaction structure for Zarai Taraqiati Bank Limited (ZTBL) must protect its core mandate of providing financial loans to small and medium-scale farmers to boost per-acre productivity, alongside evaluating ongoing efforts for Islamabad, Karachi, and Lahore international airports.
In a separate meeting focusing on private investment, Prime Minister Shehbaz ordered the immediate drafting of a roadmap to establish a private equity fund aimed at supporting Small and Medium Enterprises (SMEs), generating jobs, and driving sustainable growth. Highlighting sectors like mining, agriculture, livestock, energy, and information technology, the premier noted that alternative capital sources are urgently required given the limited contribution of the traditional banking sector to investment financing. The meetings were attended by key federal ministers, including Deputy Prime Minister and Foreign Minister Senator Muhammad Ishaq Dar, Khawaja Muhammad Asif, Jam Kamal Khan, Ahad Khan Cheema, and Sardar Awais Khan Leghari, among other senior officials.
