ISLAMABAD: The Pakistani government is intended to sell nearly two dozen state-owned enterprises (SOEs) in the coming years, Pakistani state media reported on Monday, citing Privatization Minister Aleem Khan.
The development comes amid Islamabad’s crucial talks with the International Monetary Fund (IMF) for a fresh, longer term bailout program after it completed a $3 billion short-term program in April that helped Pakistan avert a default last year.
Under the last bailout package, the lender said SOEs whose losses were burning a hole in government finances would need stronger governance, for which the country needed to implement an ambitious agenda for reforms.
Khan, while responding to a question in parliament, confirmed that the government intended to privatize around 24 state entities, including the national airlines, the state-run Radio Pakistan broadcaster reported.
“These companies include Pakistan International Airlines, Roosevelt Hotel, First Women Bank, Utility Stores Corporation and various power distribution companies,” the minister was quoted as saying.
Minister for Power Sardar Awais Leghari said the provision of uninterrupted power supply was not possible without addressing the issue of line losses and power theft.
“Pakistan cannot afford a loss of 700 billion rupees in the power sector and we have to improve the performance of power distribution companies to control losses,” the broadcaster quoted Leghari as saying in parliament.
He said the provincial governments will have to extend their cooperation in this regarding, adding, “It is responsibility of all of us, irrespective of political affiliation, to play our due role to control power theft.”
The government of Prime Minister Shehbaz Sharif has stressed the need for a fresh, longer-term program to support $350 billion economy of Pakistan, which has been facing low foreign exchange reserves, currency devaluation and high inflation.
Pakistan plans to sell around 24 state entities in coming years — minister
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Pakistan plans to sell around 24 state entities in coming years — minister
- The development comes as Islamabad is locked in crucial talks with the International Monetary Fund for a fresh, longer term bailout program
- Under the last bailout package, the lender said state entities burning a hole in government finances needed stronger governance and reforms
Pakistan cricket chief says boycott of India match aimed at restoring Bangladesh’s dignity
- Mohsin Naqvi says Pakistan sought to highlight Bangladesh’s grievances in World Cup dispute
- His comments come a day after Pakistan reversed decision to boycott the Feb. 15 India clash
ISLAMABAD: Pakistan’s decision to briefly threaten a boycott of its Twenty20 World Cup match against India was intended to highlight what it saw as unfair treatment of Bangladesh and to press for the concerns raised by Bangladeshi officials to be addressed, Pakistan Cricket Board Chairman Mohsin Naqvi said on Tuesday.
Pakistan withdrew its decision a day earlier to skip the Group A clash scheduled for Feb. 15 in Colombo, ending a week-long standoff with the International Cricket Council (ICC) that had drawn intervention from several member boards amid fears of disruption to the tournament.
“Our objective was only to ensure that Bangladesh was treated with dignity and that the injustice done to them was highlighted,” Naqvi told journalists in Peshawar. “You saw that whatever points Bangladesh raised were accepted. That’s it. We had no personal agenda of our own in this.”
Bangladesh had raised security concerns about playing its World Cup matches in India amid political tensions between the two countries and sought the relocation of its fixtures to Sri Lanka, a request that was turned down by the ICC. Subsequently, Bangladesh chose to withdraw from the tournament and were replaced by Scotland instead.
Pakistan cited Bangladesh’s removal from the original schedule as unjust when it initially instructed its team not to face India, a move that would have resulted in a forfeiture.
The decision led to a crisis situation since the India-Pakistan match is the biggest and most lucrative clash in the world of cricket, leading to a frantic weekend of negotiations.
The reversal allows Pakistan to proceed with the marquee India match after Bangladesh’s concerns were accommodated by the ICC, Naqvi said.
Pakistan, who edged past the Netherlands in their opening game, face the United States today in Group A, with India set to travel to Colombo for the Feb. 15 clash.
Pakistan and India, bitter political rivals, have not played bilateral cricket for more than a decade and meet only at global tournaments at neutral venues.
