Big Breaking News: Government Announces Privatization of Utility Stores – First Woman Bank, HBFC, and Roosevelt Hotel Also Included!

Latest Update: 24 Government Institutions Set for Privatization – Official List Released

In a shocking and impactful announcement during the National Assembly session, Federal Minister for Privatization Abdul Aleem Khan confirmed that the government will privatize 24 major institutions over the next four years. These include Utility Stores Corporation, First Woman Bank, House Building Finance Corporation (HBFC), Zarai Taraqiati Bank (Agricultural Development Bank), and even the iconic Roosevelt Hotel in the United States.

💬 Abdul Aleem Khan (Minister for Privatization):
“We are moving forward with the privatization of loss-making institutions to reduce financial burden on the national exchequer. Utility Stores and major banks will be privatized, and the process will be completed in a transparent manner.”

پاکستانی عوام کے لیے بڑی اور حیران کن خبر یہ ہے کہ وفاقی حکومت نے سرکاری اداروں کی نجکاری کا نیا منصوبہ پیش کر دیا ہے، جس کے تحت اگلے چار سالوں میں 24 اہم اداروں کو مکمل طور پر فروخت کیا جائے گا۔ سب سے بڑی بات یہ ہے کہ یوٹیلیٹی اسٹورز کارپوریشن، جو غریب عوام کو سستی اشیاء فراہم کرتی ہے، اب نجی شعبے کے حوالے کی جائے گی۔ اس فیصلے سے لاکھوں صارفین کے لیے مہنگائی کا نیا طوفان آ سکتا ہے۔ یہی نہیں، بلکہ حکومت نے تین اہم سرکاری بینک – فرسٹ ویمن بینک، ہاؤس بلڈنگ فنانس کارپوریشن (HBFC) اور زرعی ترقیاتی بینک کو بھی نجکاری فہرست میں شامل کر لیا ہے۔ عوامی نمائندوں نے اسمبلی اجلاس میں تشویش کا اظہار کرتے ہوئے کہا کہ اس عمل سے ہزاروں ملازمین بیروزگار ہو سکتے ہیں اور عوام کی سہولیات خطرے میں پڑ سکتی ہیں۔

حیران کن طور پر حکومت نے صرف ملکی ادارے ہی نہیں بلکہ امریکہ کے شہر نیویارک میں واقع پاکستان کا تاریخی اثاثہ ’روزویلٹ ہوٹل‘ بھی بیچنے یا کسی نجی پارٹنرشپ میں دینے کا عندیہ دے دیا ہے۔ یہ وہ ہوٹل ہے جس کی مالیت اربوں روپے میں ہے اور جو پاکستان کی بین الاقوامی شناخت کا حصہ سمجھا جاتا ہے۔ حکومت کا کہنا ہے کہ روزویلٹ ہوٹل پر مکمل فروخت یا مشترکہ سرمایہ کاری پر غور کیا جا رہا ہے۔ علاوہ ازیں، پاکستان انجینئرنگ کمپنی، سندھ انجینئرنگ لمیٹڈ اور 12 سے زائد بجلی پیدا کرنے اور تقسیم کرنے والے ادارے بھی نجکاری فہرست کا حصہ ہیں۔ حکومت کے مطابق یہ تمام ادارے مالی خسارے میں جا رہے تھے، اس لیے انہیں نجی شعبے کے حوالے کرنا ناگزیر ہو چکا ہے۔ اب سوال یہ ہے کہ کیا یہ نجکاری پاکستان کو معاشی طور پر مضبوط کرے گی یا عوام پر مہنگائی اور بیروزگاری کا نیا بوجھ ڈالے گی؟ جاننے کے لیے مکمل مضمون لازمی پڑھیں، کیونکہ اس میں وہ تمام تفصیلات شامل ہیں جو ہر پاکستانی کو معلوم ہونی چاہئیں۔

Utility Stores Corporation to Be Privatized – What It Means for the Public?

The Utility Stores Corporation of Pakistan (USC), which provides subsidized essential commodities to low-income families, is now on the privatization list. The decision has sparked nationwide discussion, especially among the working class who rely heavily on utility stores for affordable groceries.

✅ Possible Outcomes of Privatization:

• Removal of government subsidies on key items like sugar, flour, and ghee
• Increased prices for basic food items
• Reduced employment opportunities in utility stores
• Involvement of private management and cost-efficiency practices

⚠️ Public Concern:
Citizens fear that privatization could lead to a rise in the prices of basic commodities and further burden already struggling households.

Three Major Government Banks Also Going Private

The government has officially included three state-owned financial institutions in the privatization list:

1. First Woman Bank Ltd. (FWBL)
2. House Building Finance Corporation (HBFC)
3. Zarai Taraqiati Bank Limited (ZTBL) a.k.a. Agricultural Development Bank

Key Facts:

• These banks have been facing financial losses and mismanagement for several years.
• The government hopes to bring efficiency through private ownership.
• Thousands of employees’ futures hang in the balance.

💬 Abdul Aleem Khan:
“These banks are not performing well, and privatizing them is necessary to revitalize Pakistan’s banking system.”

Engineering and Energy Sector Institutions Also Included

Not just banks and utility stores – the privatization list also includes key public sector industries:

Engineering Sector:

• Pakistan Engineering Company (PECO)
• Sindh Engineering Limited

These companies have been facing losses for years, and privatization is expected to bring modern management and reduce financial burden.

Energy Sector:

12 major power generation and distribution companies will also be privatized. These include:

• GENCOs (Power Generation Companies)
• DISCOs (Distribution Companies)

The government hopes to overcome line losses, circular debt, and inefficient systems through privatization.

Roosevelt Hotel New York: Sell or Joint Venture?

One of the most controversial names in the list is the Roosevelt Hotel, located in the heart of New York City. Owned by Pakistan International Airlines (PIA), this historical asset is now also under consideration for privatization.

💬 Khawaja Asif (PML-N Senior Leader):
“Roosevelt is a unique property. The government is considering a joint venture, but there is a high possibility it will be sold completely.”

Background:

• The hotel was temporarily shut down in 2020 due to financial constraints.
• Estimated value: Over $1 Billion USD
• Highly prized asset in Manhattan, New York.

Full List of Institutions Included in the Privatization Plan (Announced in National Assembly)

Here are the key names included in the official privatization roadmap for the next four years:

👉 Note: Many other smaller loss-making entities are also under evaluation for privatization.

Government’s Justification: Why Privatization?

The government claims that privatization is the only solution to the consistent financial losses faced by public sector institutions. Key reasons cited include:

• 🏦 Reducing burden on national budget
• 💼 Bringing efficiency and modern corporate governance
• 🔧 Minimizing corruption and political interference
• 💰 Generating revenue for economic development
• 👨‍💼 Increasing private sector participation and job creation

Criticism & Public Reaction: Concerns on Rising Unemployment and Inflation

Opposition leaders, economists, and civil society have raised serious concerns about the privatization move:

Opposition’s View:

• Privatization may lead to mass layoffs
• Public services could be compromised
• Private firms may exploit citizens for profits

💬 Opposition Statement:
“This is not reform, this is surrender. The government is selling off national assets to cover its mismanagement.”

What Will Happen to the Employees?

Thousands of government employees working in these institutions fear job loss and uncertainty. While the government claims that a voluntary separation scheme (VSS) or compensation package will be offered, nothing is confirmed yet.

Economic Experts’ Viewpoint: Is This the Right Time?

Leading economists are divided on this decision. While some support privatization as a means of economic reform, others believe:

• The timing is critical – inflation is already hurting the public
• Pakistan needs to balance privatization with social welfare
• Privatization without a clear framework could lead to chaos

What Comes Next?

The government has indicated that the privatization process will begin immediately in some institutions and will be carried out over a 4-year phased plan.

Steps Expected:

1. Financial auditing and valuation of institutions
2. Expression of interest (EOI) to local/international investors
3. Open bidding process under transparency guidelines
4. Employee compensation and restructuring

Final Words – What It Means for Pakistan’s Future?

Privatization of utility stores and major government banks is a turning point for Pakistan’s economy. If done with transparency and planning, it could revive failing institutions, reduce the budget deficit, and bring private-sector expertise into the system.

However, if executed poorly, it could worsen unemployment, inflation, and social unrest.

🔔 Stay Updated: We will continue to share real-time updates on this topic. Bookmark 8171BISPNews.com for the latest developments on:

• Utility Stores privatization dates
• Roosevelt Hotel deal progress
• Employee compensation plans
• Official privatization list updates

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