PPP constitutes committee to engage with govt over privatisation
KARACHI: Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari has constituted a committee to engage with government over privatisation issues.
The members of the committee include Sherry Rehman, Syed Naveed Qamar and Saleem Mandviwalla, said a notification issued by Chairman’s Secretariat.
The PPP has earlier expressed its opposition to the Prime Minister Shehbaz Sharif-led government’s privatisation policy for Pakistan International Airlines (PIA) and the Pakistan Steel Mills (PSM).
Speaking at an event to commemorate Labour Day in Karachi, PPP Chairman Bilawal Bhutto Zardari said that his party would try to convince Finance Minister Muhammad Aurangzeb to operate the national carrier through public-private partnership to revive the fledgling airline instead of privatising it.
He cited successful projects in Sindh being operated on PPP mode as examples of effective collaboration between the public and private sectors.
The PPP chairman advocated for a similar approach for institutions under consideration for privatization, suggesting that the government sell shares and engage with the private sector to foster their development, thereby benefiting Pakistan and its economy.
Bilawal highlighted the success of the Thar Coal Project completed through a public-private partnership, contrasting it with previous failures under both provincial and federal administrations.
He noted the current finance minister’s favourable view of Sindh’s PPP model and expressed the intent to persuade the government to transition from privatisation to PPP-mode.
Talking about the Pakistan Steel Mills, he said that its land belongs to the Sindh government and decisions regarding the institution should involve Sindh’s consent.
He emphasized for collaborative discussions between the federal and provincial governments, proposing that if the federal government intends to divest from the Steel Mills, Sindh should have the opportunity to acquire and operate it more efficiently under PPP-mode, ensuring the welfare of its workers.
It is to be noted that the International Monetary Fund (IMF) has called on Islamabad to privatise the state-owned enterprises to revive the worsening economy.
Meanwhile, Finance Minister Aurangzeb has also, on several occasions, underscored the significance of the “essential” privatisation of loss-making enterprises.
Successive elected governments have shied away from undertaking unpopular reforms, including the sale of the flag carrier. In June 2023, the government agreed to overhaul loss-making state-owned enterprises under a deal with global financial institution.