ISLAMABAD: Pakistan government on Friday reaffirmed its commitment to expanding private sector participation in the country's economy through public-private partnerships and privatization, calling both key tools for economic growth.
The pledge came during the National Strategic Dialogue on PPPs and Privatisation, held in Islamabad, where officials also launched the Pakistan PPP Monitor, a new platform tracking the country's public-private partnership projects.
The event drew Federal Minister for Finance and Revenue Muhammad Aurangzeb, Prime Ministerial Adviser on Privatisation Muhammad Ali, Asian Development Bank Vice President Yingming Yang, and senior federal and provincial officials, along with representatives from development institutions, financial firms and the private investment community.
Aurangzeb said the government's focus is on fostering an environment that attracts private investment and business activity.
"The private sector must lead Pakistan's next phase of growth," Aurangzeb said, adding that the government aims to build a stronger pipeline of investable projects and convert those opportunities into actual investment.
Ali, the privatization adviser, said Pakistan cannot meet its infrastructure and development needs through public spending alone and called for a greater private sector role in financing, building and managing infrastructure and economic assets.
He described PPPs and privatization as complementary rather than competing strategies, with PPPs drawing private capital and expertise into infrastructure and public services, and privatization improving efficiency and investment in commercial enterprises.
"We have already started to give the reins of economic growth to the private sector," Ali said, calling for the government to complete its privatization agenda and expand its PPP pipeline.
Yang, the ADB vice president, said mobilizing private capital and expertise is essential and that well-structured partnerships can ease pressure on constrained public resources while improving services for citizens. He pointed to the newly launched PPP Monitor as a tool to give investors clearer visibility into Pakistan's project pipeline and track record.
According to the Monitor, Pakistan has completed 154 PPP projects since the 1990s, representing nearly $36 billion in investment. The current federal pipeline includes 38 projects valued at about $6.5 billion, spanning roads, railways, aviation, health care and industrial infrastructure.
The government is separately pursuing a 27-transaction privatization program covering power distribution companies, major airports, insurance companies and specialized banks. Officials pointed to the recent privatization of Pakistan International Airlines, in which management control was transferred, as well as ongoing work on power distribution firms and airport concessions.
Privatisation Commission Secretary Usman Bajwa said the government remains committed to maintaining momentum on both fronts, with an emphasis on a clear project pipeline, coordination, transparency and a predictable process for investors.
Officials said Pakistan is entering its next economic phase with an established institutional framework and a growing pipeline of opportunities, with attention now turning to converting those prospects into completed transactions.
