UNITS WORTH RS. 135.02 BILLION PRIVATISED-PC INFORMS NA STANDING COMMITTEE ON PRIVATISATION

Islamabad, May 06, 2004

The privatisation Commission has so far privatised assets and units worth Rs.135.02 billion in a fair and transparent manner. It was told to the National Assembly’s Standing Committee on Privatisation by Dr. Abdul Hafeez Shaikh Federal Minister for Privatisation & Investment in the Committee’s first meeting presided over by its Chairman Syed Muhammad Asghar Shah, MNA.

The Minister gave a detailed briefing on various aspects of privatisation process aimed at making it more transparent and fair. He apprised the Committee of Privatisation Commission’s role, policies, institutional arrangement, achievements so far and major constraints being faced.

The Chairman and the members of the Committee expressed concern at the apprehensions that the workers of privatised units might be facing problems at the hand of the their new owners. However, the Privatisation Commission assured that the workers interests were safeguard prior to the handing over of units to the buyers.

Na Body recommended to include Pakistan Railways in the Privatisation Program, however, some of the members suggested that the basic facilities should be looked after by the State. The members further added that the privatisation process needs multi partisan support with stringent regulatory framework. They lauded the achievements of the Privatisation Commission during the past four years. The Committee asked PC to be more transparent, fairer and take more care in selling out public sector entities.

Among other members who attended the meeting included MNAs Khawaja Muhammad Asif, Ms. Fauzia Wahab, Mian Shamim Haider, Engineer M. Shahid Jamil Qureshi, Malik Ghulam Murtaza Maitla, Syed Tasnim Nawaz Gardezi, Mian Riaz Hussain Pirzada, Mrs. Nayyar Sultana, Dewan Syed Jafar Hussain Bokhari, Qari Muhammad Yousaf, Maulana Asadullah, Mr. Ghulam Murtaza Satti and Syed Ghulam Mustafa Shah.