The Privatisation Commission (PC) Board has approved the inclusion of Saindak Metals Limited (SML), Pakistan Minerals Development Corporation (PMDC) and the National Insurance Company Limited (NICL) in the government’s ongoing privatisation programme.
The decision was taken on Monday after the board reviewed recommendations submitted by the PC’s Investment Committee. The committee examined 15 state-owned enterprises (SOEs) referred by various ministries for potential divestment and concluded that only three — SML, PMDC and NICL — met the criteria for inclusion. The remaining 12 SOEs were found unsuitable for privatisation at this stage.
Delisting of SEL and USC
The board also recommended removing Sindh Engineering Limited (SEL) and the Utility Stores Corporation (USC) from the active privatisation list.
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SEL has remained non-operational since 2007–08 and holds only litigation-encumbered land as its tangible asset.
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USC has ceased operations following a government directive, and its financial liabilities significantly outweigh its assets, making divestment unviable.
Privatisation to Align With SOE Reform Framework
Reaffirming its policy direction, the Privatisation Commission stressed that the programme will remain aligned with the government’s broader SOE reform agenda and fiscal consolidation strategy. All decisions, it said, will be driven by transparency, market viability and public interest.
Only those entities that are transaction-ready, financially viable, and feasible for market offering will be taken forward for privatisation. The board further advised administrative ministries to consider alternative pathways, including liquidation, for SOEs that are not suitable for sell-off.
The latest decision forms part of the government’s effort to streamline state-owned enterprises and reduce the fiscal burden while ensuring efficient economic governance.
