|
Privatisation proceeds being given new impetus
|
|
PR, USC, PSO privatisation under review
ISLAMABAD: The government is pursuing privatisation as an economic reform policy tool for generating growth and erasing structural inefficiencies by removing barriers.
Taking into account the shortcomings in the privatisation process, the present government has adopted a new approach to expedite the process with ensuring maximum public participation through promotion of public-private partnership.
The government has been successful in creating a more conducive environment and now is focusing on consolidating and building upon the successful reform process and opening more avenues for investments in the country.
Under the new policy called "Privatisation for the People Programme," Privatisation Commission is looking forward to make the process more participatory by encouraging the public to own the process through the capital market via initial public offerings.
The commission is on its way under the new vision to expedite the privatisation of mega public entities, even some of those, which never supposed to be privatised in the past.
These entities include Pakistan Railways, SME Bank, power distribution companies, insurance companies, Utility Stores Corporation, Pakistan Post, Pakistan State Oil, Heavy Electrical Mechanical Complex, Pakistan Tourism Development Corporation, National Power Construction Company and Pakistan Mechanical Tool Factory.
The commission privatised 160 entities since 1991 and earned over Rs47.5 trillion.
The commission also sold part of shares to general public of some entities through stock market and the government earned over Rs100 billion. About 67 per cent of the amount earned by the government through this process was deposited in the public kitty while 33 per cent of the amount was given back to the real owners of the entities. -NNI
|
|