The federal government has drafted recommendations to shut down several state-owned entities as part of its right-sizing initiative.
According to sources, various departments are earmarked for closure under these right-sizing efforts. The Utility Stores Corporation should be privatized or closed.
Additionally, sources indicated that the closure of the Karachi Tools, Dyes and Moulds Centre, affiliated with the Ministry of Industries and Production, is recommended. Proposals are also in place to shut down the National Productivity Organization and the Pakistan Industrial Technical Assistance Centre.
Read: IMF Pushes for Privatization: Spotlight on Pakistan’s Utility Stores
Plans for closing the Technology Upgradation and Skill Development Company have also been prepared.
The National Assembly’s privatization committee, chaired by MQM’s Farooq Sattar, was briefed that the privatization bid for Pakistan International Airlines (PIA) is scheduled for October 1st. This announcement was made during a session held on Tuesday.
In August, the federal cabinet approved privatising two departments under the Petroleum Division: the Pakistan Mineral Development Corporation and Saindak Metals Limited (SML). The petroleum division’s ENAR Petrotech Services Pvt Ltd will also be dissolved.
Decisions regarding other departments within the division, such as Pakistan State Oil (PSO), Pak-Arab Refinery Limited, and the Sui Gas Companies, remain pending.
