ISLAMABAD: The federal government has drafted recommendations to close or privatize certain state-owned enterprises as part of its right-sizing initiative, sources revealed.
According to insiders, several departments are being considered for closure under these measures. Among them is the Utility Stores Corporation, which may either be privatized or shut down.
Additionally, the Karachi Tools, Dyes and Moulds Centre, part of the Ministry of Industries and Production, is also slated for closure. The National Productivity Organization and the Pakistan Industrial Technical Assistance Centre are other departments facing potential shutdown.
A proposal has also been prepared for the closure of the Technology Upgradation and Skill Development Company.
The National Assembly’s privatization committee, chaired by MQM leader Farooq Sattar, was recently informed that the bidding for Pakistan International Airlines (PIA) will take place on October 1.
In August, the federal cabinet approved the privatization of two departments under the Petroleum Division: the Pakistan Mineral Development Corporation and Saindak Metals Limited. Additionally, ENAR Petrotech Services Pvt Ltd will be dissolved. However, decisions are still pending regarding the future of major petroleum entities like Pakistan State Oil (PSO), Pak-Arab Refinery Limited, and the Sui Gas Companies.