ISLAMABAD: The federal government has unveiled plans to privatize 24 state-owned institutions over the next five years, with the process divided into three phases. Federal Minister for Privatization Abdul Aleem Khan shared the details during a National Assembly session.
Under the plan, 10 institutions will be privatized within the first year, including Pakistan International Airlines (PIA), Roosevelt Hotel, and the Agricultural Development Bank, along with three power distribution companies (DISCOs) and the Islamabad Electric Supply Company (ISCO).
The second phase, spanning one to three years, will see the privatization of 13 more entities, including State Life Insurance, Utility Stores Corporation, four power generation companies (GENCOs), and six additional DISCOs such as Lahore Electric Supply Company (LESCO).
The final phase, expected to take three to five years, will involve the privatization of Postal Life Insurance Company.
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