New plan prepared to privatise more entities

ISLAMABAD: The federal government has prepared a new plan to privatise more federal bodies under the right-sizing policy.

The prime minister has tasked the Ministry of Privatisation and Ministry of Industries and Production with implementing the plan related to privatisation of various entities.

According to sources, Pakistan Stone Development Company and Pakistan Automobile Corporation have been marked for privatisation by the Ministry of Industries and Production. Proposals have also been finalised for the privatisation of Pakistan Institute of Management, Khadi Crafts Development Company, Agro Food Processing Facilities, Leather Crafts Development Company, Morafco Industries, Southern Punjab Embroidery Industry and Gujranwala Business Centre.

A plan has also been made to privatise the Pakistan Chemical and Energy Sector Skill Development Company and Spin Yarn Research and Development Company.

The first priority of the federal government will be privatisation of the entities, and as another option, liquidation of these departments.

Various proposals are being considered to reduce the size and expenses of federal government, which include closing and privatising the departments and other measures including merger.

Prime Minister Shehbaz Sharif had formed a high-powered Right-Sizing Committee under the chairmanship of Finance Minister Muhammad Aurangzeb.