Due to their low productivity, the Punjab government may disband eight to ten low-performing public sector companies.
During Shahbaz Sharif’s tenure as Chief Minister of Punjab, nearly 71 public sector companies were created, with a few of them being dissolved due to poor performance. Almost 40 are still operational, but they are a drain on the public coffers due to their unsatisfactory outputs.
Sardar Usman Buzdar, the current Chief Minister, has ordered the provincial Minister of Finance, Hashim Jawan Bakht, the Advisor to the CM on Economic Affairs and Planning, Dr. Salman Shah, and the provincial Chief Secretary, Jawwad Rafique Malik, to resolve bottlenecks in the appointment of qualified experts for vacant Boards of Directors (BoD) and top management positions in several companies.
According to Iftikhar Ali Sahoo, the provincial secretary of finance, 38 businesses may continue to operate while the rest will be shut down.
