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Finance Minister Senator Muhammad Aurangzeb on Monday said the government was taking difficult decisions with the support of the cabinet to advance economic reforms, asserting that all key economic indicators were showing a positive trend.
Speaking in Islamabad during a briefing on state-owned enterprises (SOEs) and in a separate media interaction, the finance minister said transparency was being ensured across all sectors, while improving the performance of state-owned entities remained a top priority.
Aurangzeb said that losses of state-owned enterprises (SOEs) had declined over the past three years, although profits of some companies had decreased.
He noted that reforms were being introduced in various sectors and governance standards of SOEs had been improved.
He added that business plans submitted by state-owned entities were under review.
The minister said that institutions that had been suffering continuous losses were being shut down, while employees of closed entities were being offered compensation packages.
He mentioned the closure of PWD and Utility Stores Corporation, saying that PASSCO is also in the process of closure.
Aurangzeb said the government was also implementing a rightsizing policy to streamline operations and reduce financial burden.
Highlighting the privatisation drive, Aurangzeb said that Pakistan International Airlines and First Women Bank had been privatised in a transparent manner.
He added that power distribution companies would also be privatised, in line with the prime minister’s directives to ensure transparency in the process.
He reiterated that the government remained committed to structural reforms aimed at strengthening the economy and improving efficiency in public sector institutions.