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Referring to the article attributed to a booklet of Friedrich Naumann
Stiftung, appearing in a section of the press on December 30, 2006, a
spokesman of the Privatisation Commission stated that article appears to set
out incorrect and out of context position with regard to the privatisation
process.
The PC Spokesman commented that article appears to be based on the
unauthenticated information/ data, which may have been provided by the vested
groups as none of the authors of the reported booklet had tried to verify the
data from this office.
The spokesman stated that the privatisation process is carried out as per the
stipulations of the PC Ordinance 2000 and the rules and regulations framed
thereunder.
Furthermore due care is taken to ensure that public and other strategic
concerns are fully safeguarded in the process. In fact some of the delays as
attributed to the report have been caused due to resolving of concerns of all
stakeholders and ensuring that a regulatory mechanism is in place prior to
privatisation.
For the purpose, the spokesman said that our effective and independent
regulatory regime established by the present government has fully ensured that
there should be no room for the monopolies. The Monopoly Control Authority,
SECP, PTA, NEPRA, OGRA and other such institutions put in place by government,
function to deal with the post privatisation issues.
The privatisation process in Pakistan has not at any stage created monopolies
as reported in the referred report. In fact the liberalization, deregulation
and privatisation policies of the government have helped to break the
monopolies and to bring in quality services to the public as is evident with
the successful deregulation of the telecom sector prior to the
privatisation of PTCL.
As regards to the Pakistan Steel Mill Corporation (PSMC), the spokesman said
that the transaction was carried out as per prescribed procedure. The PC has
however; has gone in review petition for certain clarifications in PSMC case.
PC is endeavoring to further improve the process in the light of the said
judgment.
The spokesman further stated that PTCL's privatisation, which was ongoing for
the last decade, was brought to fruitation in a transparent manner. The
details of the privatisation has been published in the gazette and also
debated in both houses of the parliament and the respective parliamentary
bodies. With regard to the point on the properties, it was clarified that the
government sold shares in PTCL along with management control and not
properties. The properties belong to PTCL and the shareholders in PTCL
including GoP have rights and obligations proportionate to their respective
shareholdingsas per the Companies ordinance 1984.
The privatisation programme is expected to continue to play an important part
in further stimulating the economic development through increased capital
formation, widespread ownership of the privatised assets and reduction in the
burden of subsidies. Direct participation of the Government in commercial
activities is being progressively reduced. In this regard the Government is
focusing on two broad areas. First, building up a stable economic
environment that encourages the investment and safeguarding the public
interest through a regulatory framework in key areas such as power,
telecommunication and oil & gas sectors. Second, helping to create a suitable
physical and technological infrastructure required for the unhindered economic
development of our rapidly growing economy.
The spokesman reiterated the government's resolve to continue the policies of
deregulation, liberalization and privatisation. Privatisation is not being
done in isolation and is being carried out in a fully transparent manner
within the ambit of law and as per the prescribed procedures under it.