Pakistan Minister Advocates Immediate Privatization of 20 National Entities

Islamabad: Pakistan’s Minister for Privatization and Board of Investment, Abdul Aleem Khan, has stressed the urgent need to privatize 15 to 20 institutions to address the current economic challenges. He made these remarks on Thursday outside Parliament after voting for the Senate. Khan emphasized the importance of promptly reviewing loss-making institutions to protect national capital and prevent further resource wastage. He highlighted that PIA’s deficit over the last five years has exceeded 500 billion rupees, posing a threat to the country’s struggling economy. Khan emphasized that privatizing loss-making institutions should be considered a crucial step for the economy’s survival, without engaging in lengthy debates. He also emphasized the need for immediate decisions regarding institutions like PIA or the Steel Mill. In response to a question about investment, Khan mentioned that Pakistan offers significant opportunities to attract both local and foreign investors, which should be maximized. He also praised the recent meeting between the Chief Minister of Khyber Pakhtunkhwa and Prime Minister Shahbaz Sharif, stating that it is time to set aside political differences and focus on the country’s development.