Govt decides to privatise 11 profitable SOEs, PIA, Steel mills spared

The PTI government has decided to privatise only 11 State Owned Enterprises (SOEs) – almost all profitable ones – and dropped all bleeding companies like Pakistan International Airlines (PIA) and the Pakistan Steel Mills (PSM) from its active list of privatisation.

The government’s decision to either exclude or put on the backburner the privatisation of all loss-making entities is primarily aimed at protecting its political capital, which could have been at stake due to any unpopular decision.

It also put off the privatisation of nine power distribution and five generation companies.

The Privatisation Commission Board on Tuesday approved the new short to medium-term privatisation programme. Privatisation Minister Muhammad Mian Soomro chaired the first board meeting.