Prime Minister Shehbaz Sharif has directed the relevant ministries and institutions to complete all stages of Pakistan’s privatization programme within the stipulated timelines, emphasizing the need for close coordination and continuous monitoring of transactions involving state owned enterprises. The prime minister issued the directions while chairing a meeting in Islamabad to review progress on the government’s ongoing privatization agenda. During the meeting, officials provided updates on several major transactions, including the privatization of state owned banks, power distribution companies and airports. Shehbaz Sharif instructed authorities to ensure that every stage of the process is completed according to the agreed schedule while maintaining focus on the broader economic objectives of the programme.
A key focus of the meeting was the proposed privatization of Zarai Taraqiati Bank Limited, with the prime minister directing officials to ensure that the transaction structure protects the institution’s core mandate of supporting Pakistan’s agricultural sector after privatization. He stressed that the bank must continue to provide credit and financial resources to small and medium sized farmers. According to the prime minister, improving farmers’ access to financing is essential for increasing crop yields on a per acre basis, while agricultural development remains an important component of Pakistan’s economic growth and food security. Officials informed the meeting that the transaction structure for Zarai Taraqiati Bank is currently being finalized with particular emphasis on maintaining its agricultural lending role.
The meeting was also briefed that 27 state owned enterprises have been placed on the government’s privatization agenda across three phases of the programme. The government is proceeding with transactions involving entities from several sectors, with authorities expected to follow defined timelines for each stage. Shehbaz Sharif instructed the relevant ministries and institutions to maintain close coordination so that administrative, financial and transaction related requirements do not result in unnecessary delays. He also directed officials to continuously monitor the progress of each initiative and ensure that agreed targets are achieved within the established schedules.
Officials informed the prime minister that the financial closing process for Pakistan International Airlines and First Women Bank has been completed. The first financial closing and transfer of management control for Pakistan International Airlines were finalized on June 29, marking a significant stage in the airline’s privatization process. The meeting also reviewed the completed financial closing process involving First Women Bank. These developments were presented as part of the broader progress made under the government’s privatization programme, which is being implemented across multiple phases.
Progress on the proposed privatization of Islamabad Electric Supply Company, Faisalabad Electric Supply Company and Gujranwala Electric Power Company was also reviewed during the meeting. Officials said Expressions of Interest have already been invited for all three power distribution companies, with separate deadlines established for interested investors to submit the required documentation. The deadline for Faisalabad Electric Supply Company has been set for August 7, followed by August 21 for Gujranwala Electric Power Company and September 7 for Islamabad Electric Supply Company. According to the briefing, several international companies have expressed interest in the transactions, while investor roadshows are currently underway to provide potential investors with information about the companies and the proposed transactions.
The government’s approach to the power distribution companies is part of the wider privatization programme covering state owned enterprises. The interest shown by international companies and the ongoing investor roadshows indicate that the government is seeking participation from both domestic and international investors. The authorities are expected to continue the process according to the established schedules, with the submission deadlines representing the next important milestones for the three power distribution companies.
The meeting also considered progress on the proposed privatization of three major airports, namely Islamabad International Airport, Jinnah International Airport Karachi and Allama Iqbal International Airport Lahore. Officials briefed the prime minister on the status of the transactions, adding the airports to the list of major state assets currently being considered under the government’s privatization strategy. The inclusion of major aviation infrastructure reflects the broad scope of the programme, which extends across financial institutions, airlines, power distribution and transport infrastructure.
For Zarai Taraqiati Bank, however, the government has placed particular emphasis on ensuring that privatization does not weaken its agricultural financing function. The prime minister’s direction reflects the importance attached to maintaining access to institutional credit for farmers, particularly small and medium sized agricultural producers. The transaction structure is therefore being developed with the objective of combining private sector participation with continued support for the bank’s established agricultural lending mandate.
Shehbaz Sharif concluded the meeting by directing the authorities concerned to continuously monitor all ongoing privatization initiatives and ensure that the agreed targets are achieved on time. He emphasized the importance of completing every stage of the programme according to the established timelines and maintaining coordination among the relevant government institutions. The latest review indicates that the government is seeking to accelerate the implementation of its privatization agenda while balancing transaction objectives with sector specific requirements, particularly in the case of agricultural financing through Zarai Taraqiati Bank Limited.
The government’s privatization programme currently covers 27 state owned enterprises across three phases, with several transactions already reaching important milestones. The completion of financial closing for Pakistan International Airlines and First Women Bank, the ongoing investor process for the three power distribution companies and the progress on airport transactions represent different stages of the wider programme. The government is now focused on maintaining momentum across these initiatives while ensuring that transactions are completed within the prescribed timelines and that important public policy objectives are retained where required.
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