Prime Minister Shehbaz Sharif’s ambitious initiative to privatize struggling state-owned enterprises encountered its first obstacle on Wednesday, as the Pakistan Peoples Party (PPP), a key ally at the federal level, opposed the plan. Instead of selling off entities like PIA and Steel Mills to private interests, the PPP suggested pursuing public-private partnerships to revitalize these institutions.
The PPP expressed its intention to address this matter with the federal government and advocate for public-private partnerships over outright privatization. Bilawal Bhutto-Zardari, Chairman of the PPP, emphasized the success of similar partnerships in Sindh and proposed adopting this approach nationally to positively impact the economy.
Regarding Pakistan Steel Mills, Bhutto-Zardari highlighted that the institution’s land belongs to the Sindh government, underscoring the importance of involving the province in decisions related to its future. He stated that if the federal government no longer wishes to manage Steel Mills, Sindh would be interested in acquiring it and revitalizing it through a public-private partnership model.
Bhutto-Zardari emphasized the effectiveness of public-private partnerships in Sindh’s projects and suggested selling shares to engage the private sector for institutional development, thereby benefitting Pakistan’s economy.
He expressed confidence that PPP-led provincial governments would prioritize salary increases for workers in the upcoming budget and urged the federal government to take similar actions.
