ECONOMIC REFORMS: Prime Minister Shehbaz Sharif chairs a meeting to review progress in the privatisation programme in Islamabad. PHOTO: SABAH
ISLAMABAD:
Prime Minister Shehbaz Sharif on Monday directed the authorities concerned to complete all stages of the privatisation process within the prescribed timelines, stressing close coordination among ministries and institutions to achieve the government’s targets.
Chairing a meeting to review the progress of state-owned enterprises’ privatisation, the premier said all milestones under the privatisation programme must be achieved within the stipulated timeline.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, ministers Khawaja Muhammad Asif, Jam Kamal Khan, Ahad Khan Cheema, Sardar Awais Ahmed Khan Leghari, Minister of State Bilal Azhar Kayani, Special Assistant to PM Haroon Akhtar and other senior government officials, PM Official Media Wing said in a statements.
The prime minister directed relevant authorities to ensure the privatisation of the Zarai Taraqiati Bank Limited (ZTBL) in a manner which safeguards the bank’s core mandate of supporting Pakistan’s agricultural sector.
He also emphasised that the bank should continue focusing on agricultural credit and financial services to small and medium-sized farmers after privatisation, saying improved access to finance is essential for increasing farm productivity per acre. He said agricultural development is critical to Pakistan’s economic growth and food security.
Officials of the Ministry of Privatisation briefed the meeting on progress under the government’s privatisation agenda, informing participants that 27 state-owned enterprises were included in the programme across three phases.
The authorities apprised the financial closing process for the privatisation of PIA and the First Women Bank which had been completed.
The meeting was further told that the first financial closing of PIA’s privatisation and the transfer of management control were finalized on June 29, this year.
