
The federal government on Thursday announced an elaborate five-year plan (2024–29) to privatise 24 state-owned enterprises (SOEs) in three phases. The announcement came from Minister for Privatisation Abdul Aleem Khan during the Question Hour in the National Assembly.
In a written reply to a question raised by MNA Ramesh Lal, the minister provided the complete list of SOEs to be privatised.
Notably, the first phase will consist of 10 major entities, including Pakistan International Airlines (PIA), Roosevelt Hotel, Zarai Taraqiati Bank Ltd (ZTBL), and three electric supply companies, Iesco, Fesco, and Gepco, as well as Pakistan Engineering Company (Peco), Sindh Engineering Limited, and First Women Bank Limited.
The second phase (to be completed in 1–3 years) will consist of 13 additional entities: State Life Insurance Corporation, Utility Stores Corporation, four Gencos (JPCL, CPGCL, NPGCL, LPGCL), as well as six additional Discos (Lesco, Mepco, Hazco, Hesco, Pesco and Sepco).
The final phase (3–5 years) will consist of the privatisation of the Postal Life Insurance Company.
Khan stated that the Cabinet Committee on Privatisation (CCoP) approved the list on August 2, 2024, and that the federal cabinet ratified it on August 13.
In related written replies, Commerce Minister Jam Kamal Khan said the US is interested in investing in Pakistan’s mineral sector, particularly copper.
While the US has imposed 50% tariffs on metals like steel and aluminium, refined copper is exempt, making it a strong export opportunity for Pakistan.
Separately, Minister of State for Finance Bilal Azhar Kayani told the House that energy tariffs will be reduced further, lowering costs for exporters.