On August 7, 2025, Minister for Privatisation Abdul Aleem Khan presented a five-year plan (2024-2029) during the National Assembly’s Question Hour. The plan aims to privatize 24 state-owned enterprises (SOEs) in three phases. Approved by the Cabinet Committee on Privatisation (CCoP) on August 2, 2024, and ratified by the federal cabinet on August 13, this initiative seeks to streamline public sector operations and enhance economic efficiency.
Phase 1: Immediate Privatisation
The first phase targets 10 major entities for immediate sale:
- Pakistan International Airlines (PIA)
- Roosevelt Hotel
- Zarai Taraqiati Bank Ltd (ZTBL)
- Islamabad Electric Supply Company (Iesco)
- Faisalabad Electric Supply Corporation Limited (Fesco)
- Gujranwala Electric Supply Corporation Limited (Gepco)
- Pakistan Engineering Company (Peco)
- Sindh Engineering Limited
- First Women Bank Limited (FWBL)
Phase 2: One to Three Years
The second phase, spanning one to three years, includes 13 entities:
- State Life Insurance Corporation
- Utility Stores Corporation
- Four generation companies: Jamshoro Power Company Ltd (JPCL-Genco I), Central Power Generation Company Ltd (CPGCL-Genco II), Northern Power Generation Company Ltd (NPGCL-Genco III), Lakhra Power Generation Company Ltd (LPGCL-Genco IV)
- Six distribution companies: Lahore Electric Supply Company (Lesco), Multan Electric Power Company Ltd (Mepco), Hazara Electric Supply Corporation (Hazco), Hyderabad Electric Supply Corporation (Hesco), Peshawar Electric Supply Corporation (Pesco), Sukkur Electric Supply Corporation (Secpco)
The final phase targets the Postal Life Insurance Company within three to five years.
In a written reply, Commerce Minister Jam Kamal Khan outlined U.S. interest in Pakistan’s mining sector, particularly copper. With the U.S. imposing 50% tariffs on metals like iron and steel but exempting refined copper, Khan highlighted export opportunities for value-added copper. He also noted that State Life Insurance Corporation ceased health insurance services in Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan (GB) due to discontinued federal funding.
Read: Pakistan Accelerates PIA Privatisation with Site Visits by Bidders
Minister of State for Finance Bilal Azhar Kayani announced plans to further cut energy tariffs to lower exporters’ input costs, addressing inflation, which dropped to 4.1% in July FY2026 from 11.1% the previous year, per a written reply.
The session saw heated exchanges as Speaker Ayaz Sadiq criticised the Ministry of Finance and the Ministry of Planning for non-responsiveness to parliamentary queries from MNAs Syed Rafiullah and Ali Muhammad Khan. Sadiq summoned the finance secretary and threatened to involve the State Bank governor, declaring, “Parliament is being treated with utter disregard; this is unacceptable.” He also ordered the joint secretary of finance to leave and summoned the planning secretary, rejecting delays in responses. Law Minister Azam Nazeer Tarar apologised on behalf of the absent secretaries.
