No pressure for privatizing state-run units: minister

Karachi: Minister for State for Privatization Mohammad Zubair has said the present government is not at all under pressure from International Monetary Fund (IMF) to privatize state-run institutions rather privatization is the central part of the economic reform agenda of federal government Pakistan Muslim League (Nawaz).

Speaking as the chief guest at 4th Global CEO Excellence Awards-2014, he said that deregulation and privatization had been the two main pillars of economic agenda of the ruling PML (N) since Mian Muhammad Nawaz Sharif came into power first time in early 90s. He said the government is keen to protect legitimate interests of the workers of these public sector organizations.

Zubair, who is also chairman of Privatization Commission, said the entire process of privatization would be carried out with transparency and public accountability while the needed information regarding the process would be made available on the Internet.

He said the government would surely require guidance and constructive criticism from the concerned business community in order to further improve and make more transparent the process of privatization.

He said the government had entered into several agreements with prospective international investors to invest mainly in industrial technology, oil, and energy sectors of the country. He said the government had been working hard to improve its credibility and transparency on the economic and business fronts.

Lt Gen (retd) Abdul Qadir Baloch reiterated resolve of the government to restore peace in Karachi where people of the business community would be able to do their necessary activities without sensing threats to their lives.

He said the government surely required support of the businessman community in order to rescue the country from the present state of economic mess. He said the government of PML(N) was working on an agenda to turn the country once again hub of economic activities.

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