Privatization Nawaz Sharif

sharif chairing pakistan-britain energy dialogue , investment conference in london.

wall street journal reviewed pakistan s privatisation plans on 25 september 2013 in article published, wsj reported islamabad plans sell 35 inefficient state-owned enterprises. officials have announced plans sell 35 public corporations on 3 years, including power companies, pakistan state oil, pakistan international airlines , pakistan steel mills. these enterprises lose taxpayers 500 billion rupees ($4.7 billion) year, while delivering poor service. inefficiencies in energy cause frequent blackouts, , supply problem exacerbated government subsidies have cost further 1.5 trillion rupees on 5 years. privatisation process led 15-member privatisation commission headed mohammad zubair, formerly ibm s chief financial officer middle east , africa. on 9 january 2014, board of privatisation commission approved divestment of shares of 3 banks along 2 other companies.

the government announced restructure pakistan international airlines, flies routes around world, including north america. pia has put out tender lease new aircraft, improve capacity , save fuel more-efficient planes. part of restructuring, pia has been split 2 companies. holding group retain 250 billion rupees in debt , excess personnel, , new pia hold lucrative landing rights , new aircraft. afterward, government plans sell 26% stake in new pia strategic partner. in february 2016, pakistan international airlines corporation (piac) converted public limited company pakistan international airlines company limited (piacl) make way privatisation, trigged eight-day long union strike. on 23 december 2016, chinese consortium won bid 40% stake in psx amount $85.5 million.