Government Announced 70 Public Sector Enterprises to be Privatized

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.

1. Habib Bank Limited (Completed)
2. United Bank Limited (Completed)
3. Allied Bank Limited (Completed)
4. National Investment Trust Limited
5. Small and Medium Enterprise (SME) Bank
6. First Women Bank Ltd
7. National Bank of Pakistan
8. National Insurance Company
9. Pakistan Reinsurance Company
10. State Life Insurance Corporation
11. House Building Finance Corporation
12. Industrial Development Bank Limited
13. Oil and Gas Development Corporation Ltd.
14. Pakistan Petroleum Limited (Completed)
15. Pakistan State Oil Company Limited
16. Sui Northern Gas Pipelines Limited
17. Sui Southern Gas Company Limited
18. Mari Petroleum Limited
19. Government Holding Private Limited
20. National Power Construction Company (Completed)
21. Faisalabad Electric Supply Company Limited
22. Islamabad Electric Supply Company Limited
23. Lahore Electric Supply Company Limited
24. Gujranwala Electric Power Company Limited
25. Multan Electric Power Company Limited
26. Peshawar Electric Supply Company Limited
27. Hyderabad Electric Supply Company Limited
28. Quetta Electric Supply Company Limited
29. Sukkur Electric Power Company
30. Kot Addu Power Company
31. Jamshoro Power Generation Company Ltd
32. Central Power Generation Company Ltd
33. Lakhra Power Generation Company Ltd
34. Northern Power Generation Company Ltd
35. Pakistan Engineering Company
36. Heavy Electrical Complex
37. Pakistan Steel Mills Corporation & its units
38. Pakistan International Airlines Corporation
39. Pakistan National Shipping Corporation
40. PIA-IL (Roosevelt Hotel, NY & Scribe Hotel, Paris)
41. Telephone Industries of Pakistan, Haripur
42. Convention Center Islamabad

List of 70 Companies that will be Privatized

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