Islamabad (Commerce Desk) — The five-year privatization program prepared by the government has failed to achieve its set targets even after two years, dealing a major blow to the economic reform plan.
According to a report by a private TV channel, the federal government approved a five-year privatization program in August 2024, covering the period from 2024 to 2029. Under the plan, 24 state-owned entities were to be transferred to the private sector in three different phases.
The report said that despite the completion of two years of the program, the targets for the first phase have still not been achieved.
The first year of the plan set a target of privatizing 10 major state-owned entities; however, the government’s efforts did not achieve the expected results. So far, only First Women Bank and PIA have been privatized, representing extremely limited progress compared with the set target.