No procedural flaw in privatization process: Zubair

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Mian Arshad

Islamabad—Chairman Privatization Commission Muhammad Zubair, Friday, no one had pointed out any procedural flaw or weakness of the privatization policy followed by the government. Ruled out objections and criticism hurled by opposition political parties on government’s privatization policy, he said that most of the observations and criticism on the privatization process based on assumptions and misperceptions developed by non concerned observers in TV talk shows.
Briefing to beat reporters about privatization process here, he said that TV talk shows should invite the experts only to make observations on the topic because common observers did not have ample know how of the privatization process due to its complex nature. Giving a break up of privatization program followed by different governments he said that almost all civilian and military governments had been following the privatization program over last two decades. “PML-N has privatized 78 SOEs in three terms, PPP 28 SOEs in two terms, PML-Q 38 SOEs in one term and military rule privatized some 27 SOEs in three years’ regime from 1999 to 2002” he briefed the reporters saying that total Rs 648.5 billion had been raised out of privatization of 172 SOEs.
He said that there was no loophole in the privatization process for making any forgery or selling the SOEs on cheaper rates to blue eyed people because the multi dimensional and strict process. “Evaluation Committee, Transaction Committee, Board of Privatization Commission and Cabinet Committee on Privatization (CCOP) are four filters to ensure transparency in the privatization of SOEs as the privatization process has to pass through these filters and every filter is stronger than the previous one” he added. “Similarly, there are 16 members in the PC Board and everyone is professional with over 30 years experience therefore it not possible to influence them all at the same to allow the sale of any entity to a lower bidder” he maintained. To a question about devalued evaluation of the assets and properties of PIA, he said that the existing evaluation was conducted in 2014 therefore a fresh evaluation would be made prior to floating the entity for the privatization.

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