Three state entities added to privatisation programme, two removed

The Board of the Privatisation Commission (PC) has recommended the inclusion of three state-owned enterprises (SOEs) in the privatisation programme and the removal of two others from the active list.

Following a review by its Investment Committee, the board cleared Saindak Metals Ltd (SML), Pakistan Minerals Development Corporation (PMDC), and National Insurance Company Ltd (NICL) for inclusion. 

The committee assessed 15 SOEs referred by relevant ministries, concluding that 12 of them were not viable for divestment.

In addition, the board recommended delisting Sindh Engineering Ltd (SEL) and Utility Stores Corporation (USC) from the privatisation programme. 

SEL has been non-operational since 2007-08, with only litigation-encumbered land as assets, while USC ceased operations following a government decision, and its liabilities exceed its assets.

The board reaffirmed that the privatisation programme will be aligned with the government’s broader reforms and fiscal consolidation strategy, ensuring that decisions are made with transparency, market feasibility, and public interest in mind. 

It stressed that only entities meeting viability and transaction-readiness criteria will be pursued for privatisation. Administrative ministries are encouraged to explore alternative measures, such as liquidation, for SOEs deemed unfit for privatisation.