List of 31 Companies announced for Privatization
11- NIT (National Investment Trust)
14- PAK STEEL
15- PIAA along with Roosevelt Hotel
16- Pakistan Railways
17- SME Bank
18- First Women Bank
19- NHA (National Highway Authority)
20- Karachi Port Trust
21- State Life
22- HBFC (House Building Finance)
23- CAA (Civil Aviation Authority)
24- National Insurance
25- Pak-Arab Refinery
28- National Power Construction Company
29- Islamabad Electric
30- Faisalabad Electric
31- Northern Power Construction Co.
Recently Government of Pakistan announced to privatize State owned Companies. As our country is getting financial aid from IMF ( International Monetary Fund ) whose philosophy is that Government should not owned business. So, they are insisting Pakistani Government to do privatization process in the country otherwise they will stop giving loan to them.
[dropcap style=’circle’]I[/dropcap]f privatization occurs, it will generate a huge revenue for Pakistani Government. We had an examples of recent selling of 24% share of PTCL ( Pakistan Telecommunication Limited) to Etisalat. But offense were also recorded in that deal.
Government official are saying that these organizations are not generating revenue, so it’s to better to sold them at a good price.
But a huge resistance is showing to the employees of these organizations. Pak Steel Mill employees said, if Government try to privatize Steel Mill they will cut down the transport from National Highway to the rest of the country.