Islamabad: The federal government has revised its five-year privatisation programme, adding Pakistan’s three largest international airports and several power distribution companies to the list of state-owned entities (SOEs) slated for privatisation.
According to official documents cited by The News, Jinnah International Airport Karachi, Islamabad International Airport and Allama Iqbal International Airport Lahore have been included in the updated roadmap and are among 11 entities scheduled for privatisation during the first phase of the programme. The three airports were not part of the earlier privatisation plan.
The revised programme covers 25 SOEs and will be implemented in three phases. The first phase, spanning the next year, includes the three airports along with Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), Roosevelt Hotel in New York, Zarai Taraqiati Bank Limited (ZTBL), House Building Finance Company (HBFC), Pakistan Engineering Company (PECO) and Sindh Engineering Limited.
Pakistan International Airlines (PIA) and First Women Bank Limited (FWBL) have been excluded from the latest list after the government classified their privatisation process as completed.
The second phase, covering one to three years, includes the privatisation of Utility Stores Corporation (USC), Lahore Electric Supply Company (LESCO), Multan Electric Power Company (MEPCO), Hyderabad Electric Supply Company (HESCO), Sukkur Electric Power Company (SEPCO), Peshawar Electric Supply Company (PESCO) and Hazara Electric Supply Company (HAZECO).
The same phase also includes Jamshoro Power Company, Central Power Generation Company Limited (CPGCL), Northern Power Generation Company Limited (NPGCL), Lakhra Power Generation Company Limited (LPGCL), State Life Insurance Corporation of Pakistan and Pakistan Reinsurance Company Limited (PRCL).
Postal Life Insurance Company has been placed in the third and final phase, which covers the three- to five-year period.
The revised roadmap forms part of the government’s broader strategy to reduce the fiscal burden of state-owned enterprises, attract private investment and expand private sector participation in the economy.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
