ISLAMABAD: Economic Affairs Minister Ahad Cheema has said that Pakistan plans to privatize more than 50 state-owned enterprises (SOEs) within the next four years as part of its efforts to overhaul public entities and improve their performance, the Pakistani government said on Monday.
Cheema said this during his meeting with a delegation of top officials of the World Bank Group (WBG), according to the Press Information Department (PID) of the Pakistani government. The visit aims to enhance understanding of Pakistan’s economic, political, social and governance landscape, while exploring opportunities for future development support.
The development comes months after Prime Minister Shehbaz Sharif announced his government would privatize all state entities, except those considered “strategically important” or essential. In 2023, the International Monetary Fund (IMF), as part of Pakistan’s $3 billion bailout, had stressed the need for stronger governance of SOEs, whose losses were heavily impacting the government finances.
Last year Pakistan’s Cabinet Committee on Privatization (CCOP), responsible for the Privatization Program 2024-29, approved the privatization of 24 entities. However, it decided that the inclusion of other state entities would be determined after a review to assess their categorization as strategic or essential enterprises.
“In the first phase, the government is focusing on the privatization of power distribution companies (DISCOS) and in the second phase, Pakistan International Airlines (PIA) and other SOEs are to be privatized,” Cheema was quoted as saying by the PID, following his meeting with the World Bank delegation.
“The minister shared that the government aims to privatize up to 50 SOEs over the next 3-4 years.”
The minister informed the delegation about the challenges faced by the power sector, including high tariffs for consumers, inefficiencies in line losses and efforts to achieve full cost of recovery, according to the statement.
The World Bank delegates commended Pakistan’s efforts in addressing critical challenges and expressed their support for Pakistan’s newly launched Country Partnership Framework (CPF) for 2026-2035 to help achieve its development goals, with an unprecedented commitment of $40 billion. It would include sovereign lending of $20 billion by the International Development Association (IDA) and International Bank for Reconstruction & Development (IBRD). IFC will mobilize another $20 billion to foster private sector investments in Pakistan.
Last week, Pakistan also signed a financial advisory agreement with a consortium, led by Dubai-based Alvarez & Marsal Middle East Limited, to privatize three major power distribution companies.
The agreement is part of the government’s broader effort to reform the power sector which has long struggled with circular debt, operational inefficiencies and power theft. The divestment of state-run power companies is a key component of Pakistan’s economic reform agenda as outlined by the IMF in its current $7 billion loan program.
Pakistan says will privatize over 50 state entities within four years
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Pakistan says will privatize over 50 state entities within four years
- The statement comes after Economic Affairs Minister Ahad Cheema’s meeting with a World Bank delegation
- Divestment of state entities is key component of Pakistan’s reform agenda under $7 billion IMF program
Pakistan alleges India behind Balochistan attacks that killed 18 civilians, 15 troops
- Interior Minister Mohsin Naqvi accuses India of planning coordinated attacks across Balochistan this week
- Military says it killed 133 militants on Friday and Saturday in separate operations across various areas in Balochistan
ISLAMABAD: Pakistan’s Interior Minister Mohsin Naqvi this week alleged that India was behind the recent coordinated attacks in the southwestern Balochistan province that the military says killed 18 civilians and 15 troops, vowing to go after those responsible for the violence.
Pakistan’s military said on Saturday that it had killed 133 militants in the past two days in separate operations in Balochistan. The Inter-Services Public Relations (ISPR) said 41 militants were killed in operations in Panjgur and Harnai areas on Friday while 92 militants, including three suicide bombers, were killed on Saturday as security forces repelled coordinated attacks on civilians and law enforcement personnel in Quetta, Gwadar, Mastung, Nushki, Dalbandin, Kharan, Panjgur, Tump and Pasni areas.
It added that 18 civilians, including women, children, elderly people and laborers, were killed in the attacks in Gwadar and Kharan, while 15 security personnel were also killed during clearance operations and armed standoffs.
“India is behind these attacks,” Naqvi said during a joint press conference in Quetta late Saturday night with Balochistan Chief Minister Sarfraz Bugti. “I can tell you for sure that India planned these attacks along with these terrorists.”
He vowed that Islamabad would go after the militants who carried out these attacks and their “masters.”
“At this time it is very necessary that the world knows that the main country that is behind terrorism is India, who not only financially supports terrorists but also supports them in their planning and strategy as well,” the minister said.
In its statement on Saturday, the ISPR said the attacks were launched by “Indian sponsored Fitna al Hindustan,” a reference the military frequently uses for the separatist Balochistan Liberation Army (BLA) militant group.
The BLA also issued a statement on Saturday, saying it had launched what it called “Operation Herof 2.0,” claiming responsibility for attacks in multiple locations across Balochistan.
The military had said intelligence reports have confirmed the attacks were orchestrated and directed by militant leaders operating from outside Pakistan who were in direct communication with attackers during the assaults.
Pakistan has frequently blamed India for supporting militant attacks in Balochistan and its northwestern Khyber Pakhtunkhwa (KP) provinces, charges that New Delhi has vehemently denied.
Balochistan, which borders Iran and Afghanistan, has faced a decades-long insurgency by separatist militant groups, with Pakistani authorities frequently accusing foreign actors of backing the violence. India has repeatedly denied such allegations.
