During the meeting with a high-level delegation from the World Bank (WB), Cheema expressed the government’s intention to privatise nearly 50 SOEs. The World Bank delegation includes Executive Directors (EDs) and Alternate Executive Directors (AEDs). The delegation reached Pakistan to conduct a review on the implementation of $40 billion under the newly launched Country Partnership Framework (CPF).

Economic affairs minister highlighted the government’s efforts to privatise the SOEs. Cheema reaffirmed the government’s goal to privatise the remaining SOEs in phases.

Under the first phase, the government will focus on the privatisation of power distribution companies (discos), Pakistan International Airlines (PIA) and other SOEs will be privatised in the second phase.

Cheema also pointed out the challenges being faced by the power sector. The challenges include high tariffs, significant losses in line efficiency, and ongoing efforts to achieve full cost recovery.

Pakistan s economy is on the path to growth, the minister said, noting that the increased funds for public sector development program (PSDP) will strengthen the infrastructure and social development projects.

Reaffirming its commitment to helping Pakistan to achieve development goals, the World Bank delegation showed strong support for Pakistan’s new Country Partnership Framework.