International Desk: Pakistan’s Prime Minister Shehbaz Sharif said that the government of Pakistan has decided to transfer all other government companies to the private sector, except strategic institutions. He gave this message in an announcement on Tuesday (May 14). Dawn’s news.
According to the Prime Minister’s office, this decision has been taken after checking the overall condition of the production of goods and services and the profit earned by various government companies and economic institutions in the past few years. This plan will be implemented in the current year 2024, and all these institutions will be transferred to the private sector by 2029. Basically, this initiative is being taken to save the government money.
It is said from the office of the Prime Minister of Pakistan, “In the next 5 years, the government will leave all non-strategic institutions and companies to the private sector.” This decision has been taken to save the taxpayers money.
Incidentally, Pakistan’s public goods and services companies have been running at a loss for years due to a lack of adequate allocation, mismanagement, and corruption. Among these, some companies, including Pakistan International Airlines (PIA), the government air service company, are doing well.
But no government in the country has paid much attention to this issue before. There have been earlier attempts to transfer companies to the private sector, but most of them have not been successful. Islamabad is sustaining these companies despite the continuous losses due mainly to political reasons.
