LAHORE, Sept 24: Convener of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Committee on Food, Shahid Imran, has called for the immediate privatisation of all loss-incurring state-owned enterprises (SOEs) on a priority basis, citing an annual drain of around Rs2.1 trillion on the national exchequer.

Talking to a delegation of industrialists here on Thursday, Shahid Imran said the continued operation of chronically loss-making public-sector entities had become an unsustainable burden on the national economy and was diverting scarce public resources from productive sectors.

He urged the government to accelerate the privatisation process without further delay through a transparent, competitive and merit-based mechanism, ensuring a level playing field for commercially viable investors.

He said persistent losses incurred by SOEs were not only widening the fiscal deficit but also increasing the government’s borrowing requirements, ultimately placing additional pressure on taxpayers and consumers.

Shahid Imran called for a comprehensive performance audit of all state-owned enterprises and their categorisation according to financial viability, strategic importance and potential for private-sector management.

He said privatisation, coupled with effective regulatory oversight and institutional reforms, could improve operational efficiency, reduce financial leakages and attract fresh investment into the economy.

He further said resources currently being consumed by loss-making SOEs should instead be channelled towards infrastructure, exports, industrial development, agriculture and other productive sectors to promote sustainable economic growth and generate employment opportunities.