In a major push to reform the public sector, the federal government has announced a three-phase privatization plan involving 24 state-owned enterprises (SOEs).

The goal is to reduce financial burdens and improve efficiency in struggling institutions.

The plan begins with the privatization of PIA, DISCOs, and Roosevelt Hotel within the next 12 months. These entities are part of the first phase, targeting 10 major institutions.

According to a written response in the National Assembly, the first phase includes:

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• Pakistan International Airlines (PIA)

• Roosevelt Hotel (USA)

• Agricultural Development Bank

• Three distribution companies, including IESCO

The second phase, to be completed in 1 to 3 years, covers 13 more institutions. These include:

• State Life Insurance Corporation

• Utility Stores Corporation

• Four Gencos (power generation companies)

• Six more DISCOs, including LESCO

The final phase, spread over 3 to 5 years, will privatize the Postal Life Insurance Company.

The Privatization Commission will manage the entire process in coordination with relevant ministries and regulatory bodies.

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Meanwhile, tensions rose in Parliament over a lack of response to questions. Speaker Ayaz Sadiq slammed the Ministries of Planning and Finance for ignoring members' queries.

“This Parliament is not to be taken lightly,” said the Speaker. He warned of calling the State Bank Governor if answers aren't provided soon.

The Speaker also rejected the Minister of State's request for more time. He demanded immediate accountability from top officials.