Pakistan included Karachi, Islamabad and Lahore airports in the privatization plan.
ISLAMABAD – The federal government has included Pakistan’s three major international airports in its revised five-year privatization program as part of a broader plan to divest or restructure 25 state-owned enterprises (SOEs). The News.
In the latest roadmap, Jinnah International Airport, Islamabad International Airport and Allama Iqbal International Airport have been included in the list of assets earmarked for private sector participation. The three airports were not included in the government’s previous privatization programme.
Under the revised strategy, 25 state-owned enterprises will be privatized or restructured in three phases. The first phase, to be completed within a year, will cover 11 institutions, while the second phase will cover 13 institutions over a period of one to three years. The final phase, lasting three to five years, involves a residual institution.
Pakistan International Airlines and First Women Bank Limited are not included in the latest plan, as the government is considering completing the privatization of both these entities.
Along with the three airports, the first phase includes privatization of IESCO, FESCO, GEPCO, Roosevelt Hotel in New York, ZTBL, HBFC, PECO and Sindh Engineering Limited.
The second phase includes Utility Stores Corporation, LESCO, MAPCO, HESCO, SEPCO, PESCO, HESCO, Jamshoro Power Company, Central Power Generation Company Limited, Northern Power Generation Company Limited, Lakhra Power Generation Company Limited, State Life Insurance Corporation of Pakistan and Pakistan Reinsurance Company Limited.
The third and final phase envisages the privatization of Postal Life Insurance Company as part of the government’s broader economic reform agenda aimed at reducing the financial burden of loss-making state-owned enterprises, improving efficiency and attracting private investment.
The post Pakistan has included Karachi, Islamabad and Lahore airports in the privatization plan appeared first on Daily Pakistan English News.
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