Nawaz govt completes initial homework for privatising 38 national organisations


The Pakistan Muslim League-Nawaz (PML-N) government has decided and completed initial homework for privatising 38 national organisations, sources said on Sunday.

According to sources, Prime Minister Nawaz Sharif is determined to sell all organisations to his close aide, kin and relatives on less rates as compared to the market price.

As many as eight organisations are of oil and gas, eight are related to banking sector and 16 are from power sector while the remaining are transport and real estate companies.

Oil and gas companies include OGDCL Pakistan Petroleum, Murree Petroleum, Government Holding Private Limited, Pak-Arab Refinery, Pakistan State Oil, Sui Southern Gas and Sui Northern Gas. Banking sector organisations include Pakistan Insurance Company Limited, Small and Medium Enterprises, Investment Trust, National Insurance Company, State Life Insurance Company, 76 per cent shares of National Bank of Pakistan, 10 per cent shares of Allied Bank whereas 42 per cent shares of Habib Bank are to be sold.

In addition, power sector includes Heavy Electric Complex, National Power Construction IESCO, FESCO, LESCO Company, Multan Electric Company and many others whereas transport and real estate companies include Pakistan Steel Mill, Pakistan Engineering Company, PIA and Convention Center Islamabad etc.