The federal government has canceled plans for expo centers privatization in Pakistan, citing strong revenue growth and self-sufficiency as the main reasons for this shift. This decision marks a significant change in the government’s privatization strategy, opting to retain state-owned assets that are performing well financially.
Expo Centers Privatization: A Strategic Shift
Initially, the government intended to move forward with expo centers privatization to reduce public expenditure. However, due to the impressive financial performance of these centers, the plan has been scrapped. By retaining these assets, the government aims to sustain their revenue-generating potential. The Pakistan Business Review highlights how this decision supports a more balanced approach to managing public assets.
Mariam Khawar, the CEO overseeing these centers, revealed that revenue has been on the rise. She noted, “Privatization would limit our ability to reinvest. Our focus now is on maintaining growth and expanding offerings.” More details on this development can be found in our Pakistan Economy section.
Corruption Probe and Management Changes
The shift away from privatization coincides with the dismissal of the former CFO due to alleged corruption. Ongoing investigations aim to uncover any misuse of funds. CEO Mariam Khawar has stressed the importance of transparency in managing public resources, aligning with the government’s broader commitment to financial oversight and ethical governance.
Petroleum Division Sales Approved
While halting expo centers privatization, the cabinet has approved the sale of key departments in the Petroleum Division, including the Pakistan Mineral Development Corporation (PMDC) and Saindak Metals Limited. This selective approach allows the government to divest from sectors with lower growth potential, aligning with its broader economic goals.
This decision reflects a nuanced strategy. The government aims to focus on sectors that offer higher returns while maintaining control over profitable assets. You can read more about the strategic implications in our Middle East Dynamics section.
Balancing Revenue with Public Control
By canceling expo centers privatization and retaining these profitable enterprises, the government emphasizes revenue growth and economic stability. This approach seeks to balance public control with selective divestment, ensuring both financial efficiency and public accountability.
Stay informed about these developments by visiting the Ground Zero Pakistan News section. This shift in policy highlights the government’s evolving strategy to manage public assets effectively.
