Islamabad, Aug 7, 2025: The federal government has revealed a detailed privatization roadmap to divest 24 state-owned enterprises (SOEs) in three phases, beginning with 10 key entities — notably Pakistan International Airlines (PIA) and the Roosevelt Hotel in the United States — within the upcoming 12 months.
As per a written reply presented in the National Assembly, the phased plan for privatization will be carried out under the supervision of the Privatization Commission alongside the relevant ministries and regulatory authorities:
Phase 1 (First 12 Months)
10 major organisations, including:
- PIA
- Roosevelt Hotel (USA)
- Zarai Taraqiati Bank (Agricultural Development Bank)
- Three electricity distribution firms, including Islamabad Electric Supply Company (IESCO)
Phase 2 (1 to 3 Years)
13 entities, including:
- State Life Insurance Corporation
- Utility Stores Corporation
- Four power generation units (GENCOs)
- Six additional power distributors, such as Lahore Electric Supply Company (LESCO)
READ MORE: PIA Privatization to Move Forward Under New Investment Strategy
Phase 3 (3 to 5 Years)
- One entity: Postal Life Insurance Company
During the same assembly session, Speaker Sardar Ayaz Sadiq sharply criticized the Planning and Finance ministries for failing to address questions raised by lawmakers.
“This Parliament is not to be taken lightly,” the Speaker asserted, warning that even the State Bank Governor might be called upon if such neglect continued. He turned down a request from the Minister of State for extra time and demanded immediate presence of the Finance and Planning secretaries in Parliament.
