ISLAMABAD: Pakistan’s top investment body said on Wednesday it had “resolved with consensus” to fast-track the privatization of state-owned enterprises (SOEs) to help reduce losses to the national exchequer.
Pakistan’s caretaker administration had earmarked 10 cash-bleeding SOEs for privatization on Sept. 21. The decision to privatize these enterprises, which includes Pakistan International Airlines, the national flag carrier, is part of fiscal discipline plans agreed with the International Monetary Fund (IMF) under a $3 billion bailout program signed earlier this year.
On Wednesday, caretaker Prime Minister Anwaar-ul-Haq Kakar chaired the sixth apex committee meeting of the Special Investment Facilitation Council (SIFC), a hybrid civil-military government body Pakistan constituted in June to attract foreign investment in key economic sectors, particularly from Gulf nations.
During its meeting, the SIFC discussed macro-economic issues affecting investment climate in the country, “including inordinate delays in restructuring/ privatization of cash bleeding State Owned Enterprises (SOEs),” the SIFC said.
As of 2020, the accumulated losses for SOEs amounted to 500 billion rupees ($1.74 billion), the finance ministry said last month.
“The committee also resolved with consensus on fast-tracking the privatization process and hence, in the larger interest of the country, reduce recurring losses to the national exchequer,” a statement from the PM office after the SIFC meeting said.
The apex committee also expressed satisfaction over Pakistan’s ongoing negotiations with foreign and domestic investors for the timely realization of various investment prospects, it said.
Pakistan is also discussing outsourcing operations of several of its state-owned assets to outside companies.
In March, Islamabad kicked off the outsourcing of operations and land assets at three major airports to be run under a public-private partnership, a move to generate foreign exchange reserves for its ailing economy.
The government has budgeted only about 15 billion Pakistani rupees ($52.42 million) in receipts from a stalled privatization process in its budget for the fiscal year 2024.
Pakistan’s top investment body resolves to fast-track privatization of loss-making entities
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Pakistan’s top investment body resolves to fast-track privatization of loss-making entities
- PM Kakar chairs sixth apex committee meeting of Special Investment Facilitation Council
- Committee reviews various initiatives spearheaded by SIFC, hurdles for investment climate
Pakistan recalibrating foreign policy, expanding engagement across Middle East, key regions — deputy PM
- Ishaq Dar outlines evolving foreign policy priorities at governance forum
- Economic diplomacy, UN Security Council role central to outreach
ISLAMABAD: Pakistan is expanding its engagement across the Middle East, Central Asia and ASEAN as part of a broader recalibration of its foreign policy in a shifting global order, Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar said on Tuesday.
Pakistan has in recent years intensified outreach to Gulf states and regional partners as it seeks to deepen trade, investment and energy cooperation while stabilizing its economy. The Middle East remains a key source of remittances and strategic partnerships for Islamabad.
The renewed diplomatic push also comes as Pakistan begins its 2025–26 term on the United Nations Security Council, where officials say the country will advocate conflict resolution, civilian protection and support for a two-state solution for Palestine.
Speaking at the Pakistan Governance Forum 2026 in Islamabad, Dar said Islamabad was strengthening strategic partnerships worldwide while prioritizing sovereignty, security and national interests.
“Pakistan is strengthening strategic partnerships worldwide — deepening our all-weather cooperation with China, reinvigorating ties with the United States, and expanding engagement across the Middle East, Central Asia, ASEAN, and beyond,” Dar said, according to highlights of his address shared by the Foreign Ministry.
He added that “economic diplomacy and climate action are central to our global engagement,” citing trade, IT, minerals, halal sectors and climate finance as priorities.
Dar also reiterated Islamabad’s position that regional peace in South Asia was “inseparable from a just resolution of Jammu & Kashmir, in line with UN Security Council resolutions and the right to self-determination of the Kashmiri people.”
Referring to Pakistan’s election to the UN Security Council with 182 votes, he said the country would champion peaceful conflict resolution, counterterrorism and “a just two-state solution for Palestine based on pre-1967 borders with Al Quds Al Sharif as capital.”
