Govt urged to run entities under public-private tie mode

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Saturday demanded of the government to run all public sector enterprises (PSEs) under the public-private partnership mode as majority of public entities have failed to deliver desired results.
The LCCI President Sheikh Muhammad Arshad, in a statement, said government would have to devise an ‘extraordinary’ plan to control heavy losses of Rs600 billion to the national exchequer. “Business community is the ultimate loser as these loss-making PSEs are being run through the duties and taxes imposed on the trade and industrial sectors,” Arshad said.
LCCI office bearers said though “salvage plan” is well on the way as far as Pakistan Railways and Pakistan International Airlines are concerned but situation in the other PSEs is quite disappointing.
They suggested formation of a committee of experts from public and private sectors to revisit strategy and adopt methods, which provide a new impetus to the PSEs.
They said the committee should go deep into the broader political philosophy and vision under which the PSEs will be required to play their role in the new competitive environment.
They said that it is necessary for the government to increase its efforts for the revival of the PSEs.
Greater autonomy and non-interference in their functioning have to be guaranteed so that the country can fully reap the benefits of PSEs. They said PSEs are for short-term economic and commercial gains and are also national assets.
“Cut in political interference, training of staff members and cost cutting measures could control the losses of the airline and streamlining of flight operations will lead to sustainable revenues to the PIA,” said the statement.