The Cabinet Committee on Privatisation (CCOP) approved on Friday 24 more state-owned entities for the privatisation programme (2024-29).

The committee, which met in Islamabad, decided that the inclusion of other SOEs in the programme would be taken upon completion of the review by the Cabinet Committee on State-Owned Enterprises (CCoSoEs) regarding categorisation of strategic/essential SOEs.

After deliberating on the privatisation policy guidelines, the CCOP considered 84 SOEs reflected in the federal footprint SOEs consolidated report FY2020-22 in light of the SOE Act and Policy.

Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar presided over the meeting.

Officials presented a phased privatisation programme (2024-29) by the ministry concerned. The CCOP recommended that priority should be accorded to reducing the federal footprint in the commercial space and limiting it to the strategic and essential SOEs only. The committee emphasised that even SOEs making profits would also be considered for privatisation.

The entities not categorised as strategic or essential would be placed before the CCOP for the decision regarding their inclusion in the programme.

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A proposal for the transfer of shares of OGDCL lying with the Privatisation Commission to a sovereign wealth fund or energy ministry was also considered. It was decided that the status quo may be maintained for the time being.

In addition, the CCOP also granted approval for the budget estimates of the commission for the fiscal year 2024-25, amounting to Rs8,169 million.

The chairman re-affirmed the government’s commitment to implementing the privatisation programme with transparency, efficiency and whole of government approach. He stressed the need for support and cooperation from all stakeholders in the implementation of the programme.