ISLAMABAD: Prime Minister Shehbaz Sharif has reportedly expressed frustration with ministries and divisions for delaying the submission of information on the categorization of commercial State-Owned Enterprises (SOEs) as strategic or essential entities, according to well-informed sources in the Finance Ministry.
In a letter to all relevant Secretaries, Additional Secretary-II at the Prime Minister’s Office, Syed Shakeel Shah, noted that despite frequent and clear directives from the Prime Minister, the Cabinet Committee on Privatization (CCoP), and the Cabinet Committee on State-Owned Enterprises (CCoSOEs), the recommendations on categorizing commercial SOEs have not been submitted to CCoSOEs by the concerned ministries and divisions.
The deadline for submission of summaries to the CCoSOEs expired on May 27, 2024.
The categorization of SOEs is crucial for finalizing the ‘Privatization Programme.’ Any delays in submitting the required recommendations to CCoSOEs are likely to negatively impact the overall pace of privatization.
The Prime Minister, while expressing concern over the current situation, has directed that the concerned Secretaries personally and proactively oversee the process to ensure the submission of the necessary recommendations to CCoSOEs (Cabinet Division) by June 10, 2024. A compliance report is to be submitted by June 11, 2024, for the Prime Minister’s review. No further extension beyond June 10 will be granted.
A list of ministries and divisions, along with their relevant SOEs required to submit recommendations to CCoSOEs, is as follows:
- Cabinet Division: Pakistan Tourism Development Corporation (PTDC), Printing Corporation of Pakistan
- Commerce Division: Pakistan Reinsurance Company Limited, National Insurance Company Limited, State Life Insurance Corporation of Pakistan (SLIC), Trading Corporation of Pakistan, Pak Expo Centres (Pvt.) Ltd
- Communication Division: Pakistan Post Office Department (PPoD)
- Defence Production Division: KS&EW, Telephone Industry of Pakistan (TIP)
- Finance Division: SME Bank Limited, Exim Bank of Pakistan, National Security Printing Company (Private) Limited, National Bank of Pakistan (NBP), Industrial Development Bank Limited (IDBL)
- Housing & Works: National Construction Limited, Pakistan Environmental Planning & Architectural Consultant (PEPAC)
- Industries and Production: Export Processing Zones Authority (EPZA), Small and Medium Enterprises Development Authority (SMEDA)
- Information and Broadcasting: Pakistan Broadcasting Corporation (PBC), Pakistan Television Corporation (PTV)
- Information Technology and Telecommunication: National Telecommunication Corp
- Maritime Affairs: Karachi Port Trust, Port Qasim Authority, Gwadar Port Authority, Pakistan National Shipping
- National Food Security and Research: Pakistan Agricultural Storage & Services Corp (Passco) Ltd
- Petroleum Division: Pakistan Minerals Development Corp (PMDC)
- Power Division: Genco Holding Company Limited (GHCL), National Power Park Management Company Limited (NPPMCL), Power Holding Private Limited (PHPL), Central Power Purchasing Agency–Guaranteed (CPPA-G), Private Power and Infrastructure Board (PPIB), National Engineering Service of Pakistan (NESPAK)
- Pakistan Railways: Pakistan Railways Freight Transportation Company (PRFTC)
- Revenue Division: Pakistan Revenue Automation Pvt. Ltd
- Ministry of Science and Technology: STEDEC Technology Commercialization of Pakistan
Last month, while presiding over a high-level meeting, the Prime Minister stated that all SOEs, except strategic entities, would be privatized. He also directed all Federal Ministries to carry out the necessary procedures and extend their cooperation to the Privatization Commission for this purpose.
