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The empowerment of the employees of State Owned Entities (SOEs) is being
carried out in accordance with the PPPP’s workers friendly policies, which
would ensure their participation at highest level in decision-making. Syed
Naveed Qamar Federal Minister for Privatisation stated while chairing the
Privatisation Commission Board meeting here today.
The Minister said that the directions given by the President Mr. Asif Ali
Zardari to disburse 12 % shares on discounted price to the employees of all
SOEs would create a sense of ownership among the workers, which would improve
the functioning of these entities as well. The meeting discussed the
eligibility criteria and decided that all permanent and contractual employees
having minimum five years of service would be benefited through this scheme.
While discussing the Pakistan Post transaction, Syed Naveed Qamar
categorically directed that non-financial services of the transaction should
not be disturbed and private sector should be associated with the Post Offices
to handle some of the financial and banking services for developing new
business setup and for improving its operations and workings. The PC Board
gave go ahead for hiring of Financial Advisory Services for the transaction.
The PC Board reviewed the progress of the first transaction Jamshoro Power
Company Limited (JPCL), launched after the new Privatisation policy announced
last month on Public Private Partnership (PPP) on lease basis. The PC has
already invited Expressions of Interests from interested parties by March 25,
2008.
In line with the new policy the SME Bank transaction was also reviewed and
various options were reviewed to process it further. It was also decided to
settle the post privatisation issues of Pakistan Telecommunication Company
Limited (PTCL) in coordination with the provincial authorities on fast track
basis.
The PC board reviewed the implementation status of the decisions made during
the last PC Board meeting and approved the minutes of the meeting.
The PC Board members, senior representatives of the respective ministries/
departments and PC officials attended the meeting.