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Caretaker Cabinet Approves Ordinance for Privatizing Government Entities

The Caretaker Federal Cabinet has taken a decisive step toward the privatization of government institutions, including the national carrier, Caretaker Cabinet Approves Ordinance for Privatizing Government.

Caretaker Cabinet Approves Ordinance for Privatizing Government Entities

The temporary government in Pakistan is making important changes. They want to sell some government-owned things, like the national airline, PIA, to private companies. This is to make the process smoother and faster.

The government is planning to make a new rule (called an ordinance) to help with this. They will create a special group called an appellate tribunal. This group will handle problems and arguments about selling government things. The decisions made by this group will be very important, and only the Supreme Court can change them.

The government is doing this because selling things has been difficult due to legal problems in different courts. Investors from inside and outside the country want to join in the selling of government things in Pakistan. Caretaker Cabinet Approves Ordinance for Privatizing Government.

To make things go faster, the government wants to move cases from other courts to this new group. On November 30, the temporary government in Pakistan also made a rule about how government-owned things will be managed in 2023.

This new rule will affect all government-owned things. Some things, especially those important for security or strategy, will stay under government control. But other things will gradually be sold to private companies.

According to the Ministry of Finance, some institutions will be changed, and future hiring in government jobs will be on a contract basis. Important positions like CFOs, CEOs, secretaries, and senior managers will be chosen carefully, and their jobs will depend on how well they perform. They will get a one-month notice if they are not doing well.

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Within six months, the government will decide which category each government-owned thing falls into. All these things will need to have good internal checks. To make sure these new rules work, a special group in the government will be created. This group will check how well government-owned things are doing, and it will suggest improvements. Skilled and experienced people will be hired for this group.

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