With the assistance of the Special Investment Facilitation Council, the government has started the process of privatizing a number of state-owned businesses (SIFC). This action seeks to guarantee the privatization process’s transparency while lowering the country’s fiscal deficit.
The government is concentrating on the privatization of a number of important organizations in the first phase, such as First Women Bank, Distribution Companies (DISCOs), Pakistan International Airlines (PIA), and other state-owned businesses. The decision was made while these groups are still causing large losses to the public coffers.
The entire liabilities of PIA have risen from 200 billion rupees to 830 billion rupees, as per government statistics. Furthermore, DISCOs have lost more than 376 billion rupees.
