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Privatization of state entities to reduce economic losses: PM

Prime Minister Imran Khan has said that privatization of state enterprises, burdening the government exchequer is in the national interest.

He was speaking at a briefing in Islamabad on Monday about capacity-building of the state enterprises being run under the Ministry of Industry.

The Prime Minister said the main objective to privatize state enterprises, their merger, or giving them back to respective departments is to reduce economic losses and enhance their performance and capacity.

He said business community and the change management experts will be consulted in this process.

Imran Khan directed the Industries Division to expedite privatization process of approved state entities to ensure completion of this procedure within the stipulated time.

It was briefed that there are a total of 38 organizations under the Industries Division and after privatization of 13 entities and merger of ten others, nine of them will remain with the Division.

Similarly, five organizations will be transferred to respective divisions and provinces.

Akram/Karrar