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The Privatisation Commission has so far paid Rs.6. 1 billion to 30,900
workers of privatised Units as Golden Hand Shake (GHS) / Voluntary Separation
Scheme (VSS) as pro-worker policy of the present government and no workers has
been made jobless during the past two years of the democratic government of
President General Pervez Musharraf. Dr. Abdul Hafeez Shaikh Federal Minister
for Privatisation & Investment stated this while addressing a public meeting
held at Dandot (Khewra) for the distribution of decade old GHS/ VSS claims of
the workers of National Cement factory.
Dr. Hafeez Shaikh said that the present government was very much conscience of
the workers rights and was fully committed to safeguard them while privatizing
the public sector entities. Under an agreement with APSEWAC, the government
has ensured the payment of Golden Hand Shake to workers who opt for
retirement, protection of service for 12 months and sale of 10 % shares at a
discounted rate to the employees who did not opt for GHS, he said.
The Minister informed that 244 employees of National Cement Industries, Dandot
have been paid GHS/ VSS worth Rs.56. 658 million, which was unresolved for the
last ten years while 276 workers of another privatised Unit Suraj Ghee
Industries, Sheikhupura would also be paid Rs.22. 10 million as GHS by next
week.
He further stated that the 1449 workers of Kohat Cement, Gharibwal Cement,
Dandot Cement and Ittehad Chemicals Ltd, who did not opt for GHS/ VSS have
been offered 10 % shares of these entities at 50 % discount which had
empowered such workers to sit on the boards and in case they decide to sell
these shares on market rate, their benefit would be Rs.75. 5 million as these
shares have been sold at 50 % discount.
Dr. Hafeez Shaikh added that to overcome the issue of unemployment it was
imperative to create an environment for collective efforts among the
government, workers and the investors as the private sector has the solution
to this problem who could generate employment. Briefing the media men, the
Minister informed that the process of Initial Public Offering (IPO) of Public
Sector entities focused to benefit the
common citizens under the slogan 'Privatisation for the People', was
progressing with satisfactory pace while soon after Ramazan the IPO of Kot Adu
Power Company (KAPCO) shares would be launched, which would be followed by
State Life Insurance Company (SLIC), United Bank Limited (UBL) and Pakistan
Steel Mill (PSM) with proper sequencing. Chaudhary Shehbaz Husain Federal
Minister for Population Welfare, Mr. Nazar Hussain Gondal, Provincial
Parliamentary Secretary for Education and District Nazim Mr. Farrukh Altaf
also distributed the GHS cheques and while addressing the public meeting said
that the whole credit of healthy economy goes to
President General Pervez Musharraf.