Federal government approves privatization of key state entities

Islamabad: The federal government has approved a major restructuring and privatization plan for several state-owned entities, including Pakistan Mineral Development Corporation (PMDC), Saindak Metals Company, and ENAR Petrotech Services in the first phase of divestment. Authorities have been directed to prepare a detailed privatization roadmap within 90 days. The reform package also involves transforming the Geological Survey of Pakistan into a commercially driven organization, along with workforce reductions and broader restructuring measures to enhance efficiency and reduce government expenditure. The initiative is expected to attract investment, streamline public sector operations, and improve Pakistan’s fiscal position while modernizing the mining and exploration sector.