Three major airports added to Pakistan’s privatisation plan as government expands five-year roadmap
• Pakistan has added Karachi, Islamabad and Lahore international airports to its revised five-year privatisation plan.
• The first phase also includes the Roosevelt Hotel, ZTBL, HBFC and three power distribution companies.
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• A total of 25 state-owned enterprises will be privatised or restructured in three phases.
Three major airports added to Pakistan’s privatisation plan as government expands five-year roadmap
Roosevelt Hotel, ZTBL and HBFC among first-phase assets; 25 state-owned entities to be privatised or restructured over five years
In a major expansion of its privatisation drive, the federal government has added Pakistan’s three busiest international airports to its revised five-year privatisation programme, bringing the total number of state-owned entities slated for divestment or restructuring to 25.
According to official documents, Jinnah International Airport Karachi, Islamabad International Airport and Allama Iqbal International Airport Lahore have been included in the programme for the first time, signalling a significant shift in the government’s strategy to attract private investment and improve the management of key national assets.
The revised roadmap divides the privatisation programme into three phases. The first phase, to be completed within the next year, covers 11 entities, followed by 13 organisations in the second phase over one to three years. The remaining entity will be taken up during the final phase over three to five years.
Pakistan International Airlines (PIA) and First Women Bank Limited (FWBL) have been removed from the list after the government deemed their privatisation process complete.
The first phase includes Jinnah International Airport Karachi, Islamabad International Airport, Allama Iqbal International Airport Lahore, Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), the Roosevelt Hotel in New York, Zarai Taraqiati Bank Limited (ZTBL), House Building Finance Company (HBFC), Pakistan Engineering Company (PECO) and Sindh Engineering Limited.
The second phase covers Utility Stores Corporation (USC), Lahore Electric Supply Company (LESCO), Multan Electric Power Company (MEPCO), Hyderabad Electric Supply Company (HESCO), Sukkur Electric Power Company (SEPCO), Peshawar Electric Supply Company (PESCO), Hazara Electric Supply Company (HAZECO), Jamshoro Power Company, Central Power Generation Company Limited (CPGCL), Northern Power Generation Company Limited (NPGCL), Lakhra Power Generation Company Limited (LPGCL), State Life Insurance Corporation of Pakistan and Pakistan Reinsurance Company Limited (PRCL).
Postal Life Insurance Company is the only organisation scheduled for the third and final phase of the programme.
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