FAISALABAD: Faisalabad Chamber of Commerce and Industry (FCCI) President Ch. Muhammad Nawaz on Tuesday said that privatization was imperative to put Pakistan on the road to progress and prosperity and those opposing this process were inadvertently eroding its economic strength.
He said that the business community was fully supportive of the immediate privatization of all public sector entities which had become unbearable burden on the national resources.
He said the PIA was once the best and most vibrant international airline of the world but now it had become permanently sick and the poor people of Pakistan were bearing its losses for the last many decades.
He said there was no chance for the recovery of this organization and hence the only solution was its privatization.
He said that the economic experts also believed that privatization was the only available panacea for all the economic ills and private sector had to play its leading role for the revival of the economy.
He said all public sector organizations were incurring financial loss to the tune of Rs.500 billion per annum and this huge amount could be saved by handing over these organizations to the private sector.
He said the government should not bow down to the undue pressure from any side and continue its privatization process in the best interest of the nation and the country.
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