PROMISE

Transform State-Owned Enterprises

Led by: 

Federal Finance Minister, Federal Law Minister

Initiative: 

“Begin turnaround of key State-Owned Enterprises (SoEs) by creating the Pakistan
Wealth Fund and by taking SoEs out of the purview of line ministries. Start reform of PIA,
Railways, Pakistan Steel, GenCos, DisCos and other enterprises on an emergency basis.”

Milestones of federal government: 

  • Holding company for State-Owned Enterprises formed (Finance Minister and Law Minister) - Complete
  • SOEs for placement under Holding company identified and published (Finance Minister) – In Progress
  • Process of shifting SOEs to Holding company initiated (Finance Minister) – In Progress
  • CEOs appointed in select SOEs (Relevant Ministers) -In progress 

Next steps

  • Government to appoint board and senior leadership of Sarmaya-e-Pakistan
  • Board and senior leadership of Sarmaya-e-Pakistan to initiate transfers of State-Owned Enterprises
  • Relevant ministers to complete merit-based management appointments in State-Owned Enterprises

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Each life is made up of mistakes and learning, waiting and growing, practicing patience and being persistent.

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