Pakistan’s Privatization Programme Slows as Government Misses First-Year Targets

Islamabad:The federal government’s privatization programme has reportedly slowed significantly, with authorities failing to achieve the targets set for the first year even after two years of the five-year plan have passed.
Under the first phase of the programme, the government had set a target of privatizing 10 state-owned entities within one year. However, two years after the programme was approved, only two institutions — First Women Bank and Pakistan International Airlines (PIA) — have been successfully privatized.
The failure to meet the initial target has dealt a setback to the federal government’s broader economic reform programme.
The federal government approved a five-year privatization programme for 2024-2029 in August 2024. Under the initial plan, 24 state-owned entities were selected for privatization in three phases.
The slow pace of privatization has raised concerns about the government’s ability to meet the targets outlined in its five-year reform programme and accelerate the restructuring of state-owned enterprises.