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May 10, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print Print 2023-02-09

Most of country’s PSEs ripe for sale or closure?

  • PM for expediting sell-off process
Zaheer Abbasi Published February 9, 2023

ISLAMABAD: Prime Minister Shehbaz Sharif has directed that the process of privatisation of public sector enterprises (PSEs) recommended by the Privatisation Board should be expedited.

The prime minister stated this while chairing a review meeting regarding the privatisation of public sector enterprises (PSEs) on Wednesday.

The pace of privatisation of PSEs was reviewed in the meeting.

Loss-making PSEs: business community leader advocates sell-off

Talking to the participants of the meeting, the prime minister said that the government encourages the process of privatisation of public sector enterprises.

He directed that the process of privatisation of such public sector enterprises whose privatisation has been recommended by the Privatisation Board should be made faster, but this process should be completed in a transparent manner and in the light of international best practices.

Senate body briefed about privatisation process

Federal Minister for Finance Ishaq Dar, Federal Minister for Energy Engineer Khurram Dastgir, Adviser to Prime Minister Ahad Cheema, Minister of State for Petroleum Musaddiq Malik, Special Assistant to Prime Minister Muhammad Jahanzeb Khan, and relevant senior government officials participated in the meeting.

Copyright Business Recorder, 2023

Shehbaz Sharif Ishaq Dar privatisation PSEs PM Shehbaz Sharif Public Sector Enterprises Finance minister Ishaq Dar Privatisation Board

Comments

Comments are closed.

MalikSaabSays Feb 09, 2023 08:14am
Dear politicians and state functionaries. You are employed by the people of Pakistan as caretakers, i.e. to take care, of public's assets. For this purpose you are given the bloated resources that you take by your own accord as perks and priviliges. Yet despite your lavish lifestyles funded by the vast majority that does not have enough beyond the bread of the day, and having all resources at your disposal, you have failed in your primary duty. Now you are hell bent on selling the very assets that do not belong to you, to fund your lavish lifestyles and your bloated perks. This is not why you are employed. This is not why your employment positions exist. We, the people, created your positions of employment; we the people are funding it through our sweat and blood; yet we, the employers, are being treated by you, the employed, as if you are our masters! Stop selling public's assets and enriching yourselves. You exist to serve the people. Serve the people, or go home.
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John Feb 09, 2023 08:24am
These crooks will sell the entire country to benefit their own pockets!
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Ali Feb 09, 2023 09:08am
Ha Ha Ha Ha...... PM has appointed 7 more SAPMs.
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Mustansir Feb 09, 2023 09:09am
@MalikSaabSays, The "Compromised leadership" is the crux of the matter!
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Saud Feb 09, 2023 09:13am
Until we come back to our strength, Islam, we will not be able to achieve anything by following others. Jamaat e Islami is the only party that has members from all communities of Pakistan, a party that can unite. In their 82 year history they are spotless, no case of corruption. They are educated, organized, dedicated and more. If we still ignore them then it's only our fault!
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Muhammad Ali Feb 09, 2023 09:49am
You want to sell valuable assets like OGDC,PPL, MARI, Airports etc just to fund the army of 87 members cabinet. Do any civilized country behave like us. LCs of important materials are blocked, petrol shortage but PM needs funds to distribute to his cronies to serve their belies. Future is horrible for us.
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John Feb 09, 2023 09:49am
@Mustansir, What a shame! These pimps have sold out their mother land! Highest level of treason!
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Khalid Feb 09, 2023 10:30am
@Saud, Agree 100%
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Khan Feb 09, 2023 11:19am
Selling of State Enterprises is not easy task. It is just a Lip service. Instead of running them properly, these enterprises are being considered for sale from last 15 years and incurring losses of Billions of Rupees. First Run them successfully, then offer them for sale. It will generate more Revenue for Pakistan.
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nawaz Feb 09, 2023 11:20am
@MalikSaabSays, o mere bhai ye loss making entities assets nahi laibilities hai ... ye baat q nahi samaj arahai
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Abrar Feb 09, 2023 11:31am
@Mustansir, Mir Jafers and Mir Sadiqs need to be sorted out! They have almost collapsed the state.
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Mark Feb 09, 2023 11:48am
JI as much crook as others.
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Hassan Wazir Feb 09, 2023 12:01pm
@MalikSaabSays, Do you know how much losses these “Public Assetts” are making annually? An oft-repeated response—not an answer— to this question is that government must make these entities profitable, and not resort to the final solution of selling them off. So, the next question is this: What steps were taken by the SAVIOUR of this nation in his more than one thousand days stint while he was ensconced on the prime ministerial throne? The answer: None. The answers are not as simple as they seem to be. In a capitalist world, it is not the job of the government to run businesses. Their only job is to provide such an environment as to render its people conduct businesses peacefully and profitably. After that, government’s job is to collect the taxes from those who are benefiting from the safe business environment provided by the govt. Shunning superficial slogans is what we need as a people.
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Hassan Wazir Feb 09, 2023 12:13pm
@Khan, if we can run them successfully and profitably, then why would we sell them. Right now, selling them won’t bring us any capital. We are selling, as a matter of fact, liabilities. It’s like a man who doesn’t have food for his children, but is adamant on keeping a lion as a pet. These entities are costing us more than our defence budget. And no, this government or any other government cannot make them profitable. They ought to, but they CANNOT.
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Qasim Feb 09, 2023 01:02pm
@Abrar, already sorted please refer to audio leaks of IK and shoukat tareen
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Qasim Feb 09, 2023 01:07pm
In my opinion there is a consensus on that as previous governments also considered that but just for their political interests couldn’t do that.. loss making entities are eating up the budget and their politically employed employees are just taking salaries and doing nothing..
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Rafique Feb 09, 2023 01:07pm
better than late & i think its best stretegy to sell the all white elephant entitites that run on our expenses. our tax money directly or indirectly goes to all these entitites those still in loss for last 2 decade jsut because of incompetent top level officers who just busy to put their pocket & putting the state department in heavy loss. we should support to govenemnt initiative on privitaation for the revival of country growth & to save the taxper money.
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Johnny Feb 09, 2023 01:38pm
@Mark, Not true! Their leaders and workers are ordinary people and have not looted and plundered national resources!
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Johnny Feb 09, 2023 01:40pm
@Rafique, But the sellers have no credibility and integrity! They will pocket mega commissions and people of Pakistan and state will be looser!
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Mian M N Shite Feb 09, 2023 01:50pm
Loot sale is now on and Samdhi will lead it and transfer proceeds to London. What a jackpot.
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Johnny Feb 09, 2023 01:53pm
@Qasim, Audio video drama has no credibility!
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Moazzam Feb 09, 2023 02:02pm
rule of game; 1. erect state of the art, highly competitive PSEs (SOEs) with public tax money 2. do bad management 3. declare PSE gone default 4. Sell on peanut rate to your cronies 5. set the management right 6. earn profit
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Mushtaque Ahmed Feb 09, 2023 02:33pm
@Moazzam, Spot on! Baloki and Haveli Bahadur Shah power plants in Punjab are the latest assets built by PML-N during their earlier tenure and was then touted as game changers. Now the PSE is being offered for privatisation.
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Nisar M Qasim Feb 09, 2023 02:56pm
Niazi's failed govt policies is cause of current situation , no development, corruption at its peak, management failure ...gogi gang, stringent IMF earlier negotiation. Current govt is struggling to manage....hope for best
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