Pakistan’s federal cabinet on Friday approved a series of legislative and economic decisions, as Prime Minister Shehbaz Sharif reiterated the government’s commitment to privatising loss-making State-Owned Enterprises under its reform agenda.
Presiding over the cabinet meeting in Islamabad, the prime minister said the government had resolved upon assuming office to offload inefficient SOEs and described the completed privatisation of a 75% stake in Pakistan International Airlines as a major milestone. He said the bidding process for PIA remained transparent, according to a statement from the Prime Minister Office.
The cabinet ratified decisions taken by the Cabinet Committee for Legislative Cases in meetings held on December 30 and December 3, 2025, including confirmation of actions related to the Islamabad Capital Territory Local Government (Amendment) Ordinance, 2025.
It also approved decisions of the Economic Coordination Committee meeting held on August 26, 2025, including the provision of relief to electricity distribution company consumers in relation to the Off-Grid (Captive Power Plant) Levy and the formulation of a strategy for the levy.
The prime minister also welcomed what he termed a significant increase in gross domestic product during the first quarter of the current fiscal year, saying the government had brought the country back from the brink of default and steered it toward economic stability.
Briefing the cabinet on recent diplomatic engagements, Shehbaz said his meetings with United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan were useful in advancing bilateral relations and mutual consultations.
He also told cabinet members that he had spoken by telephone a day earlier with Saudi Crown Prince and Prime Minister Mohammed bin Salman, during which both sides expressed satisfaction with the pace of economic and strategic relations and discussed further expanding cooperation.
The prime minister congratulated members of the federal cabinet on the New Year and conveyed his best wishes.
