Prime Minister Shehbaz Sharif has directed the authorities concerned to ensure completion of all stages of privatization programme within the stipulated timelines. He was chairing a meeting to review progress on privatization of state-owned enterprises in Islamabad today [Monday]. The Prime Minister emphasized that all targets and timelines under the privatization programme must be implemented as scheduled. He directed the relevant ministries and institutions to work in close coordination to ensure the timely completion of every stage of the privatization process. Referring to the privatization of the Zarai Taraqiati Bank Limited, Shehbaz Sharif directed that the transaction structure should be designed in a manner that preserves the bank’s core mandate and its role in supporting the agricultural sector. He stressed that, even after privatization, the bank should continue to focus on providing agricultural credit and financial resources to small and medium-sized farmers. The Prime Minister said ensuring farmers’ access to financial resources is essential for increasing per-acre crop yields, particularly for small and medium-sized growers. He said agricultural development is fundamental to Pakistan’s economic growth and food security. The meeting was briefed that a total of 27 state-owned enterprises have been included in the privatization agenda under three different phases of the programme. It was further informed that the financial closing process for the privatization of Pakistan International Airlines (PIA) and the First Women Bank has been completed. The Prime Minister was told that the first financial closing of PIA and the transfer of its management control were completed on 29 June 2026. The meeting also reviewed progress on the privatization of the Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO). It was informed that Expressions of Interest for all three companies have already been invited. The deadlines for submission of documents by prospective investors are 7 August for FESCO, 21 August for GEPCO, and 7 September 2026 for IESCO. The meeting was told that several international companies have expressed interest in the privatization of these power distribution companies, while roadshows with potential investors are also underway. The Prime Minister was also briefed on progress regarding the privatization of Zarai Taraqiati Bank Limited. The meeting was informed that the transaction structure is being designed with particular emphasis on safeguarding the bank’s core mandate of agricultural lending. The meeting also reviewed progress on the privatization of Islamabad International Airport, Jinnah International Airport, Karachi, and Allama Iqbal International Airport, Lahore. The Prime Minister directed the authorities concerned to continuously monitor progress on all ongoing privatization initiatives and ensure the timely achievement of all agreed targets.
PM Shehbaz directs authorities to ensure timely completion of Privatization Programme
