The Privatization Commission Act is being amended by the federal government.

The bill has reportedly been sent to the appropriate standing committee for examination. The transfer of important commission-related authority from the federal cabinet to the prime minister is one of the major changes.

The decision eliminates the federal cabinet’s current authority and means that the Prime Minister will now decide the commission’s chairman and members’ pay and benefits.

The Ministry of Privatization, not the government, will henceforth be consulted before the commission issues advertising for the privatization of any firm.

By placing important decisions under the prime minister’s executive authority, this amendment represents a dramatic change in governance.

According to an official document cited by ARY News, the six-year (2024–29) privatization plan of the Pakistani government was unveiled back in October 2024. It included the three-phase privatization of 24 institutions.

The Ministry of Privatization created the privatization list after receiving approval from the federal cabinet, according to specifics.

Within a year, the proposal calls for the privatization of ten institutions in the first phase. Agricultural Development Bank, First Women Bank, House Building Finance Corporation, Pakistan International Airlines (PIA), and the Roosevelt Hotel in New York will also be privatized in the first phase, the plan states.

In the first phase, power distribution businesses in Islamabad, Faisalabad, and Gujranwala, as well as Pakistan Engineering Company and Sindh Engineering Limited, will also be privatized.

Sukkur Electric Power Company (SEPCO), Multan Electric Power Company (MEPCO), Hyderabad Electric Supply Company (HESCO), Lahore Electric Supply Company (LESCO), and Utility Stores Corporation are among the 13 organizations that will be privatized in the second phase. The Hazara and Peshawar Electric Supply Companies will also be privatized within three years.

In the second phase, power generation firms such as Jamshoro Power Company, Central Power Generation Company, Northern Power Generation, and Lakhra Power Generation Company are also featured. During this time, State Life Insurance and Pakistan Reinsurance Company will be privatized.

One institution will be the focus of the third phase’s privatization efforts.