Failed privatisation

The performance of the Privatisation Commission during the past three years has been zero. It has failed to privatise any of the loss-making public-sector entities. Nor has it been able to restructure and remodel the said organisations to make them lean and thin by cost-effective measures. PIA continues to bleed despite a record fall in fuel prices. Notwithstanding the billions of losses being incurred every year, hefty pay increases are being regularly given to all employees.

The Pakistan Steel Mills have been closed for almost 15 months but no decision is being taken about its fate. Employees continue to be on its payroll. There cannot be a more insane decision. Earlier, the Privatisation Commission had proposed handing over the Steel Mill to the Sindh government, an even more ludicrous plan. Since the chairman of the Privatisation Commission has not been able to deliver and contribute anything substantive, it is better that the commission is shut down to save the huge expenditure it incurs.

Arif Majeed

Karachi