Transform Key Economic Institutions
Imran Khan and his team from PTI (Pakistan Tehreek-e-Insaf) promised us:
PTI will turnaround State-Owned Enterprises (SOEs) by creating a wealth fund, aggressive depoliticisation and through effective performance management of capable and autonomous leadership.
Pakistan’s SOEs are perpetual loss-making entities. There are over 200 SOEs which are collectively making a loss of over PKR 650 billion annually, with the majority losses coming from a few select enterprises such as PIA, Pakistan Railways, and Pakistan Steel. This poor performance is a result of an ailing infrastructure, politicised leadership, poor policies, and management.
In order to turnaround SOEs, we will:
Remove SOEs under the purview of line ministries to initiate depoliticisation.
Corporatise all SOEs and transfer ownership to a wealth fund, modeled along the lines of Khazanah in Malaysia.
We will launch the transformation programme for SoEs by:
Appointing and empowering non-political and autonomous boards
Signing performance contracts with boards and agreeing on KPIs
Selecting outstanding professional CEOs on merit through boards
Offering performance linked compensation to management
Committing to zero political interference in operations of SOEs.
We will develop time-bound turnaround plans through management and review progress on a routine basis.
You can read these promises in the complete manifesto document released by PTI available HERE in English and HERE in Urdu.
Find below the expert`s analysis on the progress of above promise :