Prime Minister Shehbaz Sharif on Monday directed authorities to complete all stages of the government’s privatisation programme within the prescribed timelines, stressing that ministries and institutions must work in close coordination to meet all targets.

Chairing a meeting to review progress on the privatisation of state-owned enterprises (SOEs) in Islamabad, the prime minister said the programme should move forward without delays to improve efficiency and attract investment.

Shehbaz also instructed officials to structure the proposed privatisation of Zarai Taraqiati Bank Limited (ZTBL) in a way that preserves its core mandate of supporting the agriculture sector.

He said the bank must continue providing agricultural credit and financial services to small and medium-sized farmers after privatisation, adding that easier access to finance was essential to improving crop yields, strengthening food security and supporting economic growth.

Officials told the meeting that 27 state-owned enterprises had been placed on the privatisation agenda under three phases of the programme.

The meeting was informed that the financial closing process for the privatisation of Pakistan International Airlines (PIA) and First Women Bank had been completed. The government also completed the first financial closing of PIA and transferred its management control on June 29, officials said.

The prime minister reviewed progress on the privatisation of Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO).

Officials said expressions of interest had already been invited for all three power distribution companies. The deadlines for submitting qualification documents are August 7 for FESCO, August 21 for GEPCO, and September 7 for IESCO.

The meeting was told that several international companies had expressed interest in the three transactions, while roadshows for prospective investors were under way.

The privatisation process for ZTBL was also reviewed, with officials briefing the prime minister that the transaction structure was being designed to safeguard the bank’s agricultural lending mandate.

The meeting further reviewed progress on the planned privatisation of Islamabad International Airport, Jinnah International Airport in Karachi, and Allama Iqbal International Airport in Lahore.

Concluding the meeting, PM Shehbaz directed the relevant authorities to closely monitor all ongoing privatisation initiatives and ensure that every milestone is achieved on schedule.