The government is undertaking a significant strategic realignment of its national divestment plan, recommending the addition of three major state-owned enterprises (SOEs) to the active privatisation list while removing two insolvent corporations deemed unviable for sale.
According to an official information today, the Privatisation Commission (PC) Board, during its 243rd meeting chaired by Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, endorsed the proposals following a detailed evaluation by its Investment Committee.
Cleared for inclusion in the Privatisation Programme are Saindak Metals Limited (SML), Pakistan Minerals Development Corporation (PMDC), and National Insurance Company Limited (NICL). These entities were selected from a pool of 15 SOEs that had been referred to the Commission by various ministries. The Investment Committee found the other 12 enterprises unsuitable for privatisation at this time.
Conversely, the Board advised delisting Sindh Engineering Limited (SEL) and the Utility Stores Corporation (USC) from the programme. The decision regarding SEL was based on the fact that the company has been non-operational since 2007-08 and its primary assets consist of land entangled in litigation.
For the Utility Stores Corporation, the move to delist follows a government decision to cease its operations. The Commission noted that the Corporation’s liabilities are substantially greater than its assets, making it an unfeasible candidate for privatisation.
The PC Board reaffirmed that its decisions are anchored in the government”s wider strategy for SOE reform and fiscal consolidation. It stressed that only entities meeting strict criteria for viability and transaction-readiness will be pursued, ensuring that institutional resources are focused on credible and executable transactions aligned with national economic objectives.
The Board also clarified that administrative ministries have the option to pursue alternative measures, such as liquidation, for the state-owned entities that were not approved for inclusion in the privatisation drive.