The Islamabad government is preparing to get rid of 24 more institutions with an annual deficit of Rs 156 billion. Under the second phase, a list was prepared for the privatization of 24 companies.
All ten state-owned electricity distribution companies have also been included in the privatization list. According to a Finance Ministry document, a reform program for state-owned enterprises has been prepared in consultation with the IMF, World Bank, and Asian Development Bank. Approval has been obtained.
According to a Finance Ministry document, the total annual losses of 12 loss-making companies have reached Rs 156 billion - eight of the 24 power distribution companies are also in deficit.
According to the document, all the ten state-owned power distribution companies - Jinko One-Jinko Four-National Power Parks Management and State Petroleum Refining and Petrochemical Corporation - have been included in the privatization list.
Similarly, Pakistan Textile City-Telephone Industries of Pakistan-State Engineering Corporation-Sendak Metals Limited-Pakistan Mineral Development Corporation and Lakhra Bridge Development Company have been included in the list of the second phases of privatization.
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