Roosevelt Hotel listed for privatization

Over 25 state-owned institutions set to change hands

ISLAMABAD:

The government on Wednesday presented a list of 25 state-owned institutions in the National Assembly set to be handed over to the private sector.

Privatisation Minister Abdul Aleem Khan submitted a list of institutions earmarked for privatization, including names such as Services International Hospital Lahore, Jinnah Convention Centre Islamabad, and PIA’s Roosevelt Hotel in New York.

Besides, major players like Pakistan International Airlines, Pakistan Reinsurance Company, and State Life Insurance Corporation are also slated for transfer to the private sector.

Read: FA approved for Roosevelt Hotel

Earlier on Tuesday, Prime Minister Shehbaz Sharif directed the Privatisation Commission to expedite the privatisation process of all state-owned enterprises (SOEs), excluding strategic ones, regardless of their current financial status.

Emphasising the government's role in facilitating investors rather than managing businesses, the premier underscored the potential savings for taxpayers and the enhancement of service quality through this initiative.

During a recent high-level meeting chaired by PM Shehbaz to evaluate matters concerning the Ministry of Privatisation and Privatisation Commission, a comprehensive roadmap for the Privatization Programme 2024-29 was presented.

The prime minister urged federal ministries to collaborate closely with the Privatisation Commission to streamline the privatisation process.