Government to strengthen SOEs through CMU

MG News | November 16, 2023 at 05:47 PM GMT+05:00

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November 16, 2023 (MLN): To address the structural weaknesses of SOEs and reduce the drain on the budget, the government is focused on operationalizing the Centralized Monitoring Unit (CMU), the caretaker finance minister, Dr. Shamshad Akhtar stated during the Future Summit today.

The CMU will monitor the SOEs and publish regular reports on financial performance and contingent liabilities.

Dr. Shamshad akhtar further highlighted that the government in the process of finalizing a SOE policy under the SOE law as agreed with International Monetary Fund (IMF).

The focus of the policy is on improving the governance and financial efficiency of the loss-making SOEs.

The Privatization program has been fast-tracked and Financial Advisors for PIA have been appointed.

Moreover, the government is working with the IFC team on Concession and Management Contracts (Privatization) for DISCOs.

"We are also working on the operationalization of the Sovereign Wealth Fund (SWF)," she added.

This holding company will help us to fast-track the privatization of SOEs through G2G arrangements.

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