Minister for Finance, Revenue, and Economic Affairs Muhammad Aurangzeb on Tuesday detailed a series of government reforms, including a restructuring of the pension system and an accelerated privatization program for state-owned enterprises (SOEs).
Speaking in response to questions from lawmakers, Aurangzeb said the government had introduced a new pension mechanism designed to ease long-term fiscal pressure by reducing pension liabilities and strengthening financial stability.
Turning to the performance of SOEs, the minister acknowledged the significant losses faced by these entities and stressed that privatization remained central to the government’s turnaround strategy.
“The privatization of 24 state-owned enterprises has been handed over to the Privatization Commission. We are working on transferring these entities to the private sector to improve their performance and efficiency,” Aurangzeb said, adding that eight of them had already been identified for sale during the current fiscal year.
To address governance issues within these enterprises, he said a new oversight and management framework was being rolled out. “The private sector’s involvement can bring fresh perspectives and efficiency,” he noted.
Aurangzeb also commended the Sindh government’s public-private partnership model, describing it as a template for improving service delivery and strengthening the role of private investment in governance and development.
He added that minimizing SOE losses would free up fiscal space, enabling the government to channel savings into priority areas such as health, education, and social protection. “If we can redirect these funds into social sectors, it will benefit the public and contribute to long-term economic growth,” he said.
The finance minister further underscored his commitment to parliamentary oversight, noting that he had consistently attended Finance Committee meetings in both the Senate and National Assembly. “My accountability lies with these committees, and I have always been ready to answer any questions about the government’s financial policies,” he concluded.
