The federal government has decided to privatise 24 state-owned institutions in three phases, according to Federal Minister for Privatisation, Abdul Aleem Khan.

The minister presented the details of the privatisation plan in the National Assembly on Thursday.

Aleem Khan stated that, in the first phase, 10 institutions would be privatised over the next year. The second phase, which will span from one to three years, will see the privatisation of 13 more institutions.

The final phase, expected to take three to five years, will involve the privatisation of one remaining entity.

Key institutions to be privatised in the first phase include Pakistan International Airlines (PIA), Roosevelt Hotel, and the Agricultural Development Bank, along with three distribution companies, including IESCO.

In the second phase, the privatisation plan will extend to organisations such as State Life Insurance, Utility Stores Corporation, and four other industrial corporations.

Additionally, six distribution companies, including LESCO, will be privatised.

The third and final phase will see the privatisation of Pakistan Postal Life Insurance Company.

Meanwhile, Speaker of the National Assembly, Sardar Ayaz Sadiq, expressed frustration over the failure of various ministries, including Planning and Finance, to respond to questions raised by parliament members.

The speaker summoned the Secretaries of the Ministry of Finance and the Ministry of Planning, indicating serious concerns about the government’s lack of engagement with parliament.

The speaker also rejected the request to provide more time for the concerned ministers, emphasising that Parliament should not be treated with such disregard.

He added, “If necessary, I will also call the Governor of the State Bank of Pakistan to address these concerns. This kind of attitude towards Parliament is unacceptable.”