PM terms PIA stake sale ‘start of reform agenda’

Shehbaz orders five-year strategy to boost agricultural exports

Prime Minister Shehbaz Sharif on Tuesday emphasised that privatising loss-making state-owned enterprises (SOEs) remains a top priority of the government, highlighting the sale of 75 per cent of PIA shares as a first step towards a wider reform drive.

Chairing a high-level meeting on the affairs of the Privatization Commission at the Prime Minister’s House, the premier directed that the pace of reforms within the Commission be further accelerated to ensure efficiency, transparency and credibility in the privatisation process.

The meeting was informed that the privatisation of electricity distribution companies (DISCOs) has been planned in two initial batches.

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In the first batch, Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO) will be privatised.

In the second phase, Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO) will be included.

The PM stressed that the Privatization Commission must be strengthened by inducting the best available talent from the private sector and the market.

He instructed that all appointments be carried out in a highly transparent manner. Stressing the need for modern governance practices, he also directed the complete digitisation of the Privatization Commission.

The prime minister further ordered that all privatisation projects be subjected to third-party audits conducted by firms of international repute.

He also called for significant improvement in the Commission’s public relations and marketing functions to ensure effective communication with stakeholders and the market.

The meeting was briefed on the ongoing reform initiatives in the Privatization Commission.

The participants of the briefing maintained that advisers from the market would be hired in key areas including finance, human resources, law, information technology and media management.

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In addition, consultants specialising in strategy, policy, transactions and the power sector would be engaged to support the Commission’s mandate.

The premier was apprised that the reforms are anchored in strategic discipline, strong governance, enhanced institutional capacity and transparent engagement with stakeholders.

Agri exports

The prime minister directed the authorities concerned to formulate a comprehensive five-year strategy to boost agricultural exports.

He stressed that reforming the agriculture sector and educating farmers at international standards were top priorities of the government.

The prime minister was chairing a meeting of a Working Group comprising private sector experts.

"The federal government, within its own jurisdiction, is undertaking reforms in the agriculture sector and, in collaboration with provincial governments, is taking measures to promote agricultural development," the prime minister said.

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He added that the government was taking measures to increase per-acre yield of the crops by providing farmers with standard seeds, fertilisers and pesticides timely and at affordable prices.

The premier pointed out that the government was also taking policy-level steps aimed at processing of the agriculture produce to make them export-ready goods.

Recently, he said 1,000 Pakistani students had been sent to China at government expense to receive training in modern agriculture technology. Pakistan has great potential in the agriculture sector, the prime minister said, adding that, within available resources, investment is being made in research for agricultural development in order to increase per-acre yield.