The federal government has prepared recommendations to shut down several state-owned entities as part of its right-sizing initiative, sources revealed.
Among the proposals, the Utility Stores Corporation is being considered for privatization or closure. Additionally, the Karachi Tools, Dyes and Moulds Centre, a subsidiary of the Ministry of Industries and Production, and the National Productivity Organization have been suggested for shutdown. The Pakistan Industrial Technical Assistance Centre and the Technology Upgradation and Skill Development Company are also on the list of entities recommended for closure.
These measures are part of broader government efforts to streamline operations and cut costs within state-owned departments.
Meanwhile, the National Assembly’s Privatization Committee was informed that bidding for the privatization of Pakistan International Airlines (PIA) will take place on October 1st. This was discussed during a session chaired by MQM’s Farooq Sattar. The federal cabinet had earlier approved the privatization of two entities under the Petroleum Division, namely the Pakistan Mineral Development Corporation and Saindak Metals Limited (SML).
As part of the restructuring plans, the Petroleum Division’s department ENAR Petrotech Services Pvt Ltd is set to be dissolved, while the fate of other entities such as Pakistan State Oil (PSO), Pak-Arab Refinery Limited, and the Sui Gas Companies is yet to be determined.
