Karachi, Lahore and Islamabad airports added to privatisation plan under new roadmap

The federal government has included Pakistan's three largest international airports in its newly unveiled five-year privatisation programme, 24NewsHD TV reported on Monday. 

According to the new privatisation plan, Jinnah International Airport, Islamabad International Airport, and Allama Iqbal International Airport have been added to the list of state-owned assets to be privatised within the first year.

The new roadmap identifies 25 state-owned entities for privatisation in three phases over the next five years.

Under the first phase, spanning one year, 11 entities have been selected for privatisation.

The second phase, covering one to three years, includes 13 entities, while the final phase, extending from three to five years, involves the privatisation of one remaining entity.

Following the successful privatisation of First Women Bank Limited and Pakistan International Airlines, both organisations have been removed from the government's privatisation list.

Besides the three airports, the first phase includes the privatisation of the Roosevelt Hotel, Zarai Taraqiati Bank Limited, House Building Finance Corporation, Pakistan Engineering Company, and Sindh Engineering Limited.

The first stage also covers the privatisation of three electricity distribution companies: Islamabad Electric Supply Company, Faisalabad Electric Supply Company, and Gujranwala Electric Power Company.

The second phase includes the privatisation of Utility Stores Corporation, along with several power distribution companies, including Lahore Electric Supply Company, Multan Electric Power Company, Hyderabad Electric Supply Company, Sukkur Electric Power Company, Peshawar Electric Supply Company and Hazara Electric Supply Company.

The second phase also covers the proposed privatisation of Jamshoro Power Company Limited, Central Power Generation Company Limited, Northern Power Generation Company Limited, Lakhra Power Generation Company Limited, State Life Insurance Corporation of Pakistan and Pakistan Reinsurance Company Limited.

Under the final phase of the five-year programme, the government plans to complete the privatisation of State Life Insurance Company and Postal Life Insurance Company Limited.