Privatization Minister expresses resolve to privatize loss-making entities.

ISLAMABAD -- Caretaker Minister for Privatization Fawad Hassan Fawad on Thursday expressed the firm resolve of the government to privatize major loss-making state-owned enterprises to avoid a substantial financial drain of national resources as well as enhancing their working efficiencies.

The minister held a meeting with the Country Head of the World Bank Najy Benhassine and discussed the caretaker government's strategic agenda for privatization, with specific attention to privatizing Pakistan International Airlines (PIA) and optimizing the performance of Distribution Companies (DISCOs).

This concerted effort aims to rectify substantial financial losses incurred by these entities and thereby alleviate the fiscal burden on the government, said a press release.

The Minister said that the federal government including the Apex committee of SIFC, comprising civil bureaucracy, military leadership, and political stakeholders, have unanimously agreed to undertake the privatization of major loss-making State-Owned Enterprises (SOEs) which are already on the privatization list.

He said that the PIA has emerged as the foremost priority for privatization due to its persistent and staggering financial losses, amounting to billions of rupees annually, adding that...