Islamabad, February 16, 2026 – Finance Minister Muhammad Aurangzeb has confirmed that the government is committed to accelerating the privatization of State-Owned Enterprises (SOEs), stating that additional SOEs will be gradually handed over to the Privatization Commission.
Speaking on Monday, Aurangzeb said the prime minister’s directive is to ensure the privatization process moves forward with transparency and speed. Following the momentum from PIA’s privatization, the government plans to expand the list beyond the initial 26 SOEs.
The finance minister highlighted that several SOEs have already been shut down or are in the process of closure due to operational inefficiencies, corruption, and high subsidies. He emphasized that future decisions will focus on the overall rightsizing of the federal government.
Aurangzeb provided updates on key privatization initiatives, stating that PIA’s control will be transferred to private sponsors in April, the ZTBL privatization is in advanced stages and will soon be presented to the Cabinet Committee on Privatization, and HBFC is also under active review.
He stressed that despite reported losses, aggregate SOE losses have declined over the past three years, from Rs905 billion in 2023 to Rs832 billion last year, and some SOEs, particularly in the oil and gas sector, remain profitable. Aurangzeb added that the government received a net positive inflow of Rs40 billion from SOEs last year, highlighting improved governance and financial management.
The minister concluded that the privatization drive, combined with governance reforms, aims to reduce fiscal burden while promoting private sector participation in the economy.