Pakistan’s private sector is soon going to experience a major boom after the Cabinet Committee on Privatization (CCOP) has approved 70 Public Sector Enterprises (PSE) to be privatized as reported by ProPakistani.
42 out of the 70 enterprises have been listed under the Early Implementation program. The companies included in the program will undergo the privatization program within the next few years.
The 42 Companies That are in the Early Implementation Program:
HBL, UBL, Allied Bank, Pakistan Petroleum Limited. Pak Arab Refinery Company, and National Power Construction have already undergone the process and been privatized.
Some of the big corporations include, PIA, Pakistan State Oil, National Bank of Pakistan and Pakistan Steel Mills these have all been state owned enterprises for decades. Continuous financial losses have resulted in the final decision of PIA being privatized. Massive changes should be expected following the privatization of these entities.
- Habib Bank Limited (Completed)
- United Bank Limited (Completed)
- Allied Bank Limited (Completed)
- National Investment Trust Limited
- Small and Medium Enterprise (SME) Bank
- First Women Bank Ltd
- National Bank of Pakistan
- National Insurance Company
- Pakistan Reinsurance Company
- State Life Insurance Corporation
- House Building Finance Corporation
- Industrial Development Bank Limited
- Oil and Gas Development Corporation Ltd.
- Pakistan Petroleum Limited (Completed)
- Pakistan State Oil Company Limited
- Sui Northern Gas Pipelines Limited
- Sui Southern Gas Company Limited
- Mari Petroleum Limited
- Government Holding Private Limited
- National Power Construction Company (Completed)
- Faisalabad Electric Supply Company Limited
- Islamabad Electric Supply Company Limited
- Lahore Electric Supply Company Limited
- Gujranwala Electric Power Company Limited
- Multan Electric Power Company Limited
- Peshawar Electric Supply Company Limited
- Hyderabad Electric Supply Company Limited
- Quetta Electric Supply Company Limited
- Sukkur Electric Power Company
- Kot Addu Power Company
- Jamshoro Power Generation Company Ltd
- Central Power Generation Company Ltd
- Lakhra Power Generation Company Ltd
- Northern Power Generation Company Ltd
- Pakistan Engineering Company
- Heavy Electrical Complex
- Pakistan Steel Mills Corporation & its units
- Pakistan International Airlines Corporation
- Pakistan National Shipping Corporation
- PIA-IL (Roosevelt Hotel, NY & Scribe Hotel, Paris)
- Telephone Industries of Pakistan, Haripur
- Convention Center Islamabad
List of 70 Companies that will be Privatized
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