ISLAMABAD: Pakistan’s Cabinet Committee on Privatization (CCOP) has approved 24 entities for the Privatization Program 2024-29 and decided that the inclusion of other state-owned entities (SOEs) will be made upon completion of a review about their categorization as strategic or essential enterprises, Pakistani state media reported on Friday.
Pakistan, which has been facing low foreign exchange reserves, currency devaluation and high inflation, this month reached a staff-level agreement with the International Monetary Fund (IMF) for a new $7 billion loan.
Under the last $3 billion bailout package from the IMF that was critical in averting a sovereign debt default last year, the lender had said SOEs whose losses were burning a hole in government finances needed stronger governance.
On Friday, officials presented the CCOP with the five-year, phased privatization program by the Ministry of Privatization, and the committee considered 84 SOEs fr privatization after deliberating on the policy guidelines.
“The CCOP recommended that priority should be accorded to reducing the federal footprint in commercial space and limiting it to the strategic and essential SOEs only,” the state-run APP news agency reported. “CCOP emphasized that even SOEs making profits would also be considered for privatization.”
Among the main entities Pakistan is pushing to privatize is its national flag carrier, the Pakistan International Airlines (PIA). The government is putting on the block a stake ranging from 51 percent to 100 percent.
The CCOP decided that the entities not categorized as “strategic” or “essential” would be placed before it for a decision regarding their inclusion in the privatization program, according to the report.
In his concluding remarks, Deputy Prime Minister Ishaq Dar reaffirmed the government’s commitment to implementing the privatization program with “transparency, efficiency and whole-of-government approach,” stressing the importance of support and cooperation from all stakeholders.
Pakistan approves 24 loss-making state entities for privatization program
https://arab.news/vdzpe
Pakistan approves 24 loss-making state entities for privatization program
- Pakistan this month reached an agreement with the International Monetary Fund for a new $7 billion loan
- Under the last deal, the lender had said loss-making Pakistani state entities needed stronger governance
Pakistan military says 13 militants killed in counterterror operations across northwest
- Military says counterterror operations launched in Bajaur, Bannu, Dera Ismail Khan, Khyber and South Waziristan districts
- The counterterror operations take place as Afghanistan and Pakistan remain locked in conflict since late last month
ISLAMABAD: Pakistani security forces this week killed 13 militants in five separate counterterror operations in the northwestern Khyber Pakhtunkhwa (KP) province, the military’s media wing said on Sunday, vowing to eliminate militancy from the country.
The counterterror operations were conducted on Mar. 6-7, with Pakistani troops killing five militants in the northwestern Bajaur district in the first operation. In two other encounters in Bannu and Dera Ismail Khan district, security forces killed three militants belonging to the Tehreek-e-Taliban Pakistan (TTP) militants, the Inter-Services Public Relations (ISPR) said.
Meanwhile, five other militants were killed in two separate counterterror operations in Khyber and South Waziristan districts in which five more militants were slain.
“Weapons and ammunition were also recovered from Indian-sponsored killed khwarij, who remained actively involved in numerous terrorist activities in the area,” ISPR said in a statement.
Pakistan’s military frequently uses the term “Fitna al Khwarij” to describe TTP militants. The militant outfit has carried out some of the deadliest attacks against Pakistani civilians and security forces since 2007 in a bid to impose their strict brand of Islamic law across the country.
Islamabad accuses Afghanistan of sheltering the TTP and facilitating their attacks against Pakistan, a charge Kabul has denied. Pakistan also accuses India of supporting these militant groups, which New Delhi has repeatedly rejected.
The counterterror operations take place as Pakistan remains locked in conflict with Afghanistan since late February.
The worst fighting between the two sides began late last month when Afghan forces launched a surprise attack on Pakistani military installations along their shared border. Afghanistan said the assault was in retaliation for Pakistan’s earlier airstrikes in February on what Islamabad described as militant camps inside Afghanistan.
Pakistan’s Information Minister Attaullah Tarar said on Saturday that Islamabad has killed 527 Afghan Taliban fighters and injured more than 755 since clashes began.
Afghanistan has also claimed attacking multiple Pakistani military bases and killing several Pakistani soldiers. Arab News has not independently verified the claims by both sides.
Pakistan has ruled out talks with Afghanistan and said it will continue its military operations in the country till it withdraws support for militant groups that Islamabad says operate from Afghanistan.
