ISLAMABAD: Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh has announced that the government plans to privatize or shut down state-owned enterprises (SOEs) and non-strategic ministries as part of its ongoing austerity efforts. Speaking to a private news channel, the minister emphasized that these steps aim to reduce the financial burden on the government and enhance governance.
“This initiative will not only alleviate the government’s financial load but also ensure a sharper focus on effective governance,” Sheikh stated.
The minister revealed that the government is evaluating multiple SOEs to determine whether they should be privatized or closed altogether. “These entities often generate losses and underperform. They fail to provide any tangible benefits, and public satisfaction with their services is low,” Sheikh explained.
Discussions are underway concerning all federal institutions, with a primary focus on privatizing most of them, according to Sheikh. “Only a select few that serve strategic purposes will be retained. Our goal is to downsize for better governance.”
When pressed for details on which specific institutions and ministries would be affected, Sheikh did not provide names but indicated that some ministries may either be closed or merged with others. “We are considering merging ministries or reducing the number of divisions within them. The federal government needs to concentrate on good governance and will only manage institutions with strategic value,” he added.
The minister also highlighted that these measures are intended to cut expenditures, noting that the government has recently decided to halt the offering of new jobs. “We have ceased job offerings as a cost-saving measure. These institutions operate on tax revenue, and currently, they are generating losses. Our aim is to maintain a lean government,” Sheikh said.
In addition to the job freeze, the minister announced that serving government officials will no longer be allowed to purchase new vehicles and will be required to pay their own utility bills. These austerity measures, Sheikh concluded, are part of the government’s broader strategy to reduce spending and improve efficiency.
