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ISLAMABAD: The government has assured the earliest possible privatization of 25 institutions of Pakistan in the ongoing negotiations with the IMF for a new program.
Sources in the finance ministry claimed that the government has informed the IMF that privatization of PIA is progressing rapidly while power distribution companies will be handed over to the private sector.
Sources say that at present 25 institutions are included in the active list of privatization, one institution in the aviation sector is PIA, and 4 institutions related to financial and real estate are included in the ongoing program of privatization.
2 from the industrial sector, 14 from the energy sector (including power companies), State Life Insurance Corporation, Baloki, Haveli Bahadur, Gaddu, and Nandipur Powerplant are also part of the ongoing privatization program.
10 state-owned electricity distribution companies, House Building Finance Corporation, First Women Bank, Pakistan Engineering Company, and Sindh Engineering Limited are also on the active privatization list.
It should be remembered that Federal Finance Minister Muhammad Aurangzeb has made it clear in blunt words that there will be privatization of institutions and PIA is at the top of the list.
According to the sources, Pakistan has fulfilled all the important conditions for the final review, the success of the negotiations is subject to the satisfaction of the IMF, the decision regarding the success of the negotiations has to be taken by the IMF.
