AIRLINK 151.71 Decreased By ▼ -4.00 (-2.57%)
BOP 10.05 Decreased By ▼ -0.26 (-2.52%)
CNERGY 7.30 Decreased By ▼ -0.35 (-4.58%)
CPHL 85.11 Decreased By ▼ -3.06 (-3.47%)
FCCL 46.57 Decreased By ▼ -0.79 (-1.67%)
FFL 15.78 Decreased By ▼ -0.34 (-2.11%)
FLYNG 54.86 Decreased By ▼ -3.15 (-5.43%)
HUBC 136.89 Decreased By ▼ -1.63 (-1.18%)
HUMNL 11.25 Decreased By ▼ -0.29 (-2.51%)
KEL 5.34 Decreased By ▼ -0.13 (-2.38%)
KOSM 5.63 Increased By ▲ 0.17 (3.11%)
MLCF 82.84 Decreased By ▼ -0.91 (-1.09%)
OGDC 208.86 Decreased By ▼ -3.19 (-1.5%)
PACE 6.05 Increased By ▲ 0.19 (3.24%)
PAEL 41.46 Decreased By ▼ -1.76 (-4.07%)
PIAHCLA 22.38 Increased By ▲ 0.62 (2.85%)
PIBTL 8.19 Decreased By ▼ -0.23 (-2.73%)
POWER 13.80 Decreased By ▼ -0.56 (-3.9%)
PPL 167.09 Decreased By ▼ -3.90 (-2.28%)
PRL 32.17 Decreased By ▼ -1.32 (-3.94%)
PTC 24.43 Decreased By ▼ -1.07 (-4.2%)
SEARL 89.83 Decreased By ▼ -3.06 (-3.29%)
SSGC 41.52 Decreased By ▼ -0.40 (-0.95%)
SYM 14.86 Decreased By ▼ -0.14 (-0.93%)
TELE 7.69 Decreased By ▼ -0.13 (-1.66%)
TPLP 9.14 Decreased By ▼ -0.17 (-1.83%)
TRG 63.20 Decreased By ▼ -1.02 (-1.59%)
WAVESAPP 9.14 Decreased By ▼ -0.28 (-2.97%)
WTL 1.45 Increased By ▲ 0.08 (5.84%)
YOUW 4.15 Decreased By ▼ -0.04 (-0.95%)
BR100 13,037 Decreased By -207.6 (-1.57%)
BR30 37,726 Decreased By -745.3 (-1.94%)
KSE100 122,144 Decreased By -1949.6 (-1.57%)
KSE30 36,883 Decreased By -653.4 (-1.74%)

According to a Business Recorder news item “PSM transaction: Ministers briefed about probable timelines” carried by the newspaper last Thursday, “the ministers were briefed about the current status and progress and probable timeline for the completion of the PSM transaction. The issues related to the formation of a new subsidiary, use of jetty and conveyor and others were deliberated upon in detail.”

It is quite unlikely that the government really wants to privatise PSM. The lack of any meaningful effort on the part of successive governments speaks volumes about the degeneration of a profit-making PSM into a white elephant. The incumbent government, too, is still dithering over whether to privatise it. The government has been sending mixed signals about its policy in relation to this dysfunctional mega industrial unit even after retrenchment of a very large number of its employees.

Mohsin Raza (Lahore)

Copyright Business Recorder, 2021

Comments

Comments are closed.