The successive governments have been pursuing privatisation as a core element of economic reform agenda. The privatisation programme aims to reduce fiscal burden on public exchequer, improve service delivery to the people of Pakistan, facilitate more competition in the economy and strengthen Pakistan’s capital markets. Pakistan was one of the first countries in the region to initiate deregulation and liberalization of the economy and start the privatisation process. Between 1991 and 2008, proceeds of PKR 476 billion were raised from 167 privatisation transactions. These included important privatisation successes in the industrial, telecom and financial sectors. After a gap of nearly six years the privatisation programme was resumed in 2013. During the period 2013-18, the divestment / privatisation process of various Banks, Power Sector Entities, Pakistan Steel Mills Corporation (PSMC), Mari Petroleum Company Limited (MPCL), SME Bank, etc. were initiated. Of which five (05) privatisation transactions were successfully concluded fetching proceeds of ~PKR 173 billion, including Foreign Exchange of US$ 1.124 billion. In order to turn around the economy the government is primarily focused on restructuring of PSEs and intends to make them self-sustainable. Therefore, a new feasible privatisation plan focusing on short, medium and long-term plans was approved by the Cabinet Committee on Privatisation on 31st October, 2018, which was ratified by the Cabinet on 1st November, 2018. The success of the privatisation programme, however, is contingent upon the support of all the stakeholders, including the various government agencies, departments, organizations, regulatory authorities and, most importantly, the people of Pakistan. I am confident that all stakeholders will play their positive role and contribute fully towards ensuring the success of the ongoing privatisation programme and the fulfilment of its objectives.

Rizwan Malik
Secretary, Privatisation Division /
Secretary, Privatisation Commission