The Pakistan government has unveiled an ambitious five-year privatization strategy for 2024-2029, targeting 24 institutions across three phases.
In the first year, ten entities will be privatized, including Pakistan International Airlines (PIA), the Roosevelt Hotel in New York, and the Agricultural Development Bank.
The plan also includes Sindh Engineering Limited and several power distribution companies.
The second phase will focus on 13 institutions, such as Utility Stores Corporation and multiple electric supply companies. The final phase will aim to privatize one more entity.
Finance Minister Muhammad Aurangzeb reaffirmed the commitment to complete PIA and three power distribution company privatizations by the end of 2024.