ISLAMABAD: The Pakistani government is intended to sell nearly two dozen state-owned enterprises (SOEs) in the coming years, Pakistani state media reported on Monday, citing Privatization Minister Aleem Khan.
The development comes amid Islamabad’s crucial talks with the International Monetary Fund (IMF) for a fresh, longer term bailout program after it completed a $3 billion short-term program in April that helped Pakistan avert a default last year.
Under the last bailout package, the lender said SOEs whose losses were burning a hole in government finances would need stronger governance, for which the country needed to implement an ambitious agenda for reforms.
Khan, while responding to a question in parliament, confirmed that the government intended to privatize around 24 state entities, including the national airlines, the state-run Radio Pakistan broadcaster reported.
“These companies include Pakistan International Airlines, Roosevelt Hotel, First Women Bank, Utility Stores Corporation and various power distribution companies,” the minister was quoted as saying.
Minister for Power Sardar Awais Leghari said the provision of uninterrupted power supply was not possible without addressing the issue of line losses and power theft.
“Pakistan cannot afford a loss of 700 billion rupees in the power sector and we have to improve the performance of power distribution companies to control losses,” the broadcaster quoted Leghari as saying in parliament.
He said the provincial governments will have to extend their cooperation in this regarding, adding, “It is responsibility of all of us, irrespective of political affiliation, to play our due role to control power theft.”
The government of Prime Minister Shehbaz Sharif has stressed the need for a fresh, longer-term program to support $350 billion economy of Pakistan, which has been facing low foreign exchange reserves, currency devaluation and high inflation.
Pakistan plans to sell around 24 state entities in coming years — minister
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Pakistan plans to sell around 24 state entities in coming years — minister
- The development comes as Islamabad is locked in crucial talks with the International Monetary Fund for a fresh, longer term bailout program
- Under the last bailout package, the lender said state entities burning a hole in government finances needed stronger governance and reforms
‘Confident’ Pakistan ready for India blockbuster after USA win
- Pakistan carry momentum into Sunday’s clash after back-to-back World Cup wins, series sweep of Australia
- Players dismiss Pakistan’s poor ICC record against India, saying past results will not shape the outcome
COLOMBO, Sri Lanka: Pakistan warmed up for their blockbuster T20 World Cup clash against India with a 32-run win against the USA on Tuesday then declared they were “confident” of taking down their bitter rivals.
The Group A win was a boost for Pakistan before Sunday’s high-octane clash with the defending champions in Colombo, now back on after the Islamabad government called off a boycott 24 hours previously.
Opener Sahibzada Farhan, who top scored with 73 in the USA win, said: “The match is on and we are in a confident mood.”
Pakistan have a dismal record against India in ICC tournaments, winning only once in eight encounters in T20 World Cups and have lost all eight times that the sides have met in the 50-over World Cup.
In last year’s T20 Asian Cup, India beat Pakistan three times on their way to lifting the trophy in Dubai.
Spinner Tariq Usman, who took 3-27 against the United States, said those stats did not bother him.
“We used to beat India in the 1990s and before so don’t count the recent record or only the ICC event record, we used to win against them frequently,” said Tariq.”
Farhan promised: “This time it will be different and we will give a strong performance.
“We lost all three matches including the final to India in the Asia Cup but they were not one-sided.”
Farhan said two wins out of two in the World Cup, the first was against the Netherlands on Saturday, had kick-started Pakistan’s campaign.
Pakistan came into the tournament having beaten Australia 3-0 in a home T20 series and Farhan said the mood around the camp was very positive.
“Wins always give you confidence and we will take this confidence into Sunday’s game and we assure you we will be a better side come Sunday,” said Farhan.
India will face a second Group A match against Namibia on Thursday in New Delhi before flying to Sri Lanka.
It means a quick turnaround for Sunday’s match, the biggest and most lucrative clash in world cricket.
