ISLAMABAD: The World Bank has proposed to divide the state-owned enterprises suffering from continuous losses into sectors on the issue of privatization.
According to the World Bank, the State-Owned Enterprises (SOEs) have been suffering from continuous losses since 2016, due to which the federal government provides financial support to them. Urgent action should be taken on limiting government aid to government institutions, reducing government intervention for cost reduction and better performance.
The World Bank recommended that selective divestiture, governance and financial issues of high-profile institutions should be addressed, and corporate governance and financial discipline policies consistent with the SOA Act should be implemented.
