Seven Entities to be Privatised in 2020
Federal Government to Privatise Seven Entities by May/June 2020
On Monday, Prime Minister Imran Khan announced that efforts are to be made to privatise the seven entities as scheduled. One of the factors that has to be improved is inter-ministerial coordination. The Privatisation Division Secretary briefed the Prime Minister that the seven entities will be privatised by May/June 2020.
The programme includes Small and Medium Enterprises (SMEs) Banks, Services International Hotel in Lahore, Jinnah Convention Centre in Islamabad, 2 re-gasified liquefied natural gas (RLNG) power projects, and 27 government lands. Moreover, the federal government is considering leasing or running Roosevelt Hotel on the basis of public-private partnership.
Pakistan’s National Flag Carrier, i.e. Pakistan International Airlines (PIA) governs the Roosevelt hotel as of now. Mohammed Mian Soomro, the Minister for Privatisation, stated that the hotel will be leased for a long time. PIA will be developed using the income generated from this venture. This is because the hotel hasn’t been able to earn much revenue.
Bilawal Bhutto Zardari Opposes the Privatisation Policy
One of the Pakistani leaders opposing this vehemently is Pakistan People’s Party (PPP) Chairman Bilawal Bhutto Zardari. In his statement, he said that the selected governments always pursued the privatisation of national institutions. “Musharraf was unable to sell off national institutions, and now the puppet government won’t succeed either.”
Moreover, he added that the selected governments had previously sold off the State-owned Entities (SOEs) at throwaway prices.
In addition to criticising the government’s privatisation plan, he pointed out issues with the labour policies in the country. “When these institutions are performing well, the profits are not shared with its workers. However, when they suffer losses, the workers are considered part of the problem.”
He further stated that the only solution is that a government should be here that actually represents the people, especially workers.
The current government wishes to boost the economy more effectively and to tackle the many hurdles blocking their way. PM once again tells the people of our nation to not worry as he scrambles to gain enough financial resources for various social and developmental projects. Looking over the past one and a half years, one cannot help but question the effectiveness of the current government and their decisions.
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