Punjab’s Ten Govt-Owned Companies to be Disbanded for Unproductivity - Android

The Government of Punjab may disband eight to ten low-performing public sector companies due to their limited productivity. Almost 71… Read More

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The Government of Punjab may disband eight to ten low-performing public sector companies due to their limited productivity.

Almost 71 public sector companies had been established under Shahbaz Sharif’s tenure as the Chief Minister of the province, and a few of them had been disbanded due to lack of performance. Almost 40 are still functional but are a burden on the public exchequer with their unsatisfactory output.

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The current CM, Sardar Usman Buzdar, has directed the provincial Minister for 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 the bottlenecks in the appointment of competent professionals for the vacant positions of the Boards of Directors (BoD) and the top management in several of these companies.

According to provincial Secretary of Finance, Iftikhar Ali Sahoo, 38 companies might continue to be operational while the rest will be closed down.

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A senior officer revealed on the condition of anonymity that even if the government wishes to disband a company over its lack of performance, it first needs to appoint the BoDs.

The officer was hopeful that the appointment of CEOs will turn out to be fruitful, that the companies will improve their performances, and that each company would be reviewed separately.

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