Privatising loss-making enterprises part of govt’s economic reform agenda: PM
Federal cabinet approves postponement of Islamabad’s local govt polls
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday said the privatisation of loss-making State-Owned Enterprises (SOEs) is part of the government’s vision of economic reforms.
Presiding over the federal cabinet meeting in Islamabad, PM Shehbaz expressed satisfaction that the privatisation of 75 percent stake of Pakistan International Airlines (PIA) was completed very successfully and the bidding process remained quite transparent, the Prime Minister Office reported.
“We have expressed our resolve since we assumed the power that loss-making State-Owned Enterprises would be privatised and the privatisation of the PIA is a significant milestone in this regard,” he said.
Shehbaz also welcomed the significant growth in the country’s GDP during the first quarter of the current fiscal year, saying that the government has brought the country back from the brink of default and steered it towards economic stability.
Recalling his recent meetings with United Arab Emirates (UAE) President Sheikh Mohamed bin Zayed Al Nahyan, the prime minister termed them as extremely useful in the context of bilateral relations and mutual consultations.
He said he had a pleasant telephone conversation with Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman a day ago, wherein both sides expressed satisfaction at the pace of economic and strategic relations between the two countries.
The premier informed the cabinet that discussions were also held regarding further expanding the scope of these relations.
Shehbaz also congratulated the members of the federal cabinet on the New Year and conveyed his best wishes.
The federal cabinet ratified the decisions made in the meeting of the Cabinet Committee for Legislative Cases held on December 30, 2025, including the confirmation of action regarding the Islamabad Capital Territory Local Government (Amendment) Ordinance, 2025.
The cabinet also endorsed the decisions made in the meeting of the Cabinet Committee for Legislative Cases held on December 3, 2025.
The cabinet gave approval to the decisions made in the meeting of the Economic Coordination Committee held on August 26, 2025, which also includes approval of the decision regarding provision of relief to the consumers of electricity distribution companies concerning the Off-Grid (Captive Power Plant) Levy and formulating a strategy in this regard.
Meanwhile, the federal cabinet during a meeting headed by Prime Minister Shehbaz Sharif, approved the postponement of local government elections in Islamabad.
During the meeting on Friday, the forum ratified the decisions made on December 3, and December 30, 2025, by the cabinet committee on legislation.
The development comes as the Election Commission of Pakistan (ECP) had earlier announced holding the local body polls in Islamabad on February 15.
Meanwhile, the scrutiny of the nomination papers will take place from December 30th 2025 to January 3 2026.
Appeals against the scrutiny can be filed from January 5 to 8, and election tribunals were to hear and dispose of these appeals between January 9-13.
Candidates can withdraw their nomination papers until January 15, while the final list of candidates will be displayed on January 16. The election symbols will also be allotted on January 16 2026.
The results were to then be compiled from February 16 to 19.
The federal cabinet on Friday mulled over new legislation related to local government elections in the federal capital, with the CEC Islamabad briefing the meeting on the matter.
Furthermore, the forum, sources added, has approved the legislation for local government elections in Islamabad on the same lines as Punjab. Staff Report
