Govt to privatise 44 entities by 2025
IMF-backed report reviews 84 commercial state-owned enterprises
Moreover, the sum of losses of top-10 loss-making SOEs contributes around 90% to the total losses of SOEs portfolio each year. PHOTO: FILE
ISLAMABAD:
The International Monetary Fund (IMF)-backed first review of Pakistan’s bleeding public sector enterprises has identified 44 entities for privatisation, including the power companies that are causing big losses, despite a 50% reduction in losses in the first year of current government.
The review of 84 commercial state-owned enterprises (SOEs) has been completed as part of the structural benchmarks set by the IMF and supported by the World Bank and the Asian Development Bank (ADB), according to the “SOEs Triage: Reforms and Way Forward” report that the Ministry of Finance released on Thursday.
• Rs200bn for power
• Rs150bn for gas
• Rs400bn for DLTL scheme
• Rs200bn for credit
ISLAMABAD: The government is set to unveil an ambitious Textile and Apparel Policy 2020-25 laden with cash subsidies and lower rates on utilities worth Rs960 billion to boost production and exports of value-added textile products.
The proposed policy, which will be the third such policy, estimates three scenarios that the measures will lift the textile and clothing exports to a minimum of $15.7bn and a maximum of $20.8bn by end of the year 2025.
Well-placed sources told
Dawn that the Federal Board of Revenue (FBR) has sought one week’s time to analyse the revenue implications of the proposed measures under the policy. One of the major recommendations of the textile division is the restoration of the zero-rated regime for the five export-oriented sectors. The facility was withdrawn in the year 2019.