Islamabad, August 7, 2025: The federal government has announced a comprehensive three-phase plan to privatize 24 state-owned enterprises (SOEs), beginning with 10 major institutions, including Pakistan International Airlines (PIA) and the Roosevelt Hotel (USA), within the next 12 months.
In a written response submitted to the National Assembly, the government outlined the timeline and scope of the privatization drive, which will be managed by the Privatization Commission in collaboration with relevant ministries and regulatory bodies.
Under the first phase, the following 10 institutions will be privatized including Pakistan International Airlines (PIA), Roosevelt Hotel, USA, Agricultural Development Bank and three Distribution Companies (DISCOs), including Islamabad Electric Supply Company (IESCO).
The second phase will include the privatization of 13 more institutions, among them are State Life Insurance Corporation, Utility Stores Corporation, Four Generation Companies (GENCOs) and six additional DISCOs, including Lahore Electric Supply Company (LESCO).
The final phase will see the privatization of Postal Life Insurance Company.
The Privatization Commission will lead the overall process, ensuring transparency and coordination with all relevant ministries and regulatory agencies.
During the Assembly session, Speaker Sardar Ayaz Sadiq expressed sharp disapproval over the lack of responsiveness from the Ministry of Planning and the Ministry of Finance, noting that their representatives failed to answer lawmakers’ questions.
“This Parliament is not to be taken lightly,” said the Speaker. “If needed, I will summon the Governor of the State Bank as well. This disregard for the House is unacceptable.”
Rejecting a request from the Minister of State for more time, the Speaker demanded immediate accountability and called for the secretaries of Finance and Planning to personally appear before the House.
