Govt wants to sell national assets to please WB, IMF, says Mandviwala

ISLAMABAD: Chairman Senate Standing Committee on Finance and Revenue Senator Saleem Mandviwala said that the government wants to sell national assets at all costs, to meet the wishes of the World Bank (WB) and IMF.
The World Bank and other donor agencies have provided a loan of $54 million for privatisation of national strategic institutes. The Privatisation Commission chairman and his team are busy in road shows at heavy expenses in United States at the cost of taxpayers, while Parliament of Pakistan is protesting against the privatisation policy of government, he said.
In a statement issued from his office, Senator Saleem Mandviwala said that Privatisation Commission is doing everything on its own; they don’t bother to tell anything to the parliament. Their aim is to fulfill the desires of IMF and World Bank, which will be resisted at every level.
Senator Mandviwala said that the privatisation policy of the government has failed, it has raised questions on its transparency. Parliamentary committee is probing the privatisation of Heavy Electrical Complex (HEC), While National Accountability Bureau (NAB) has started investigation into the dubious sale of KASAB Bank,
Senator Saleem Mandviwala said the current government has put in trash the corporate governance rules 2013, which were aimed at introducing merit in Public Sector Enterprises (PSEs), instead promoting a culture of favouritism in every organisation. He said that Pakistan People’s Party would challenge the appointment of MD PSO in the Senate. The government has made non-transparent appointment of MD Pakistan State Oil (PSO) to make the LNG deal final. MD PSO has been hired from a company that is already in the business of importing LNG. This is violation of rules.
Senator Mandviwala said that LNG project is a living example of corruption. The government is pressurising the officials to sign the dubious agreement of LNG import. It has fired MD Sui Northern Gas Company limited (SNGPL), who had refused to sign the LNG deal.
Senator Saleem Mandviwala said that the Faisalabad Electric Supply Company (Fesco) employees are protesting against privatisation, while chief minister Khyber Pakhtunkhwa has rejected the privatisation of Peshawar Electric Supply Company (Pesco), then why is Privatisation Commission undertaking road shows abroad, he asked.
He demanded implementation of the Corporate Governance Rules 2013 and to stop the bleeding PSEs. He called for steps to promote the culture of merit and stop privatisation of national strategic assets. “PPP will resist privatisation at every level and bring this matter in the Senate of Pakistan,” he concluded.