Islamabad: Federal cabinet has accorded approval to 5 years privatization program.

Under 2024-2029 program 24 institutions will be privatized.

According to sources more entities will be included in the privatization program after review.

The privatization will be made in three phases under the program.

The privatization process of PIA and House Building Finance Corporation will soon be completed. Power distribution companies and production companies will also be privatized.

in the first phase electric power companies of Faisalabad, Islamabad and Gujranwala will be privatized. The privatization of LESCO, MEPCO, PESCO, HESCO, SEPCO will be made in the second phase.

Utility Stores corporation and State life insurance corporation will also be privatized.

Comprehensive privatization plan of approved institutions will be presented in cabinet.