THE assurance by Federal Minister for Industries and Production Rana Tanveer Hussain to the protesting employees of the Utility Stores Corporation (USC) show the Government is amenable to correction and hopefully this approach will also be applied to other entities that are either being abolished or thrown for divestment on questionable grounds. Responding to the demand of the protestors, the Minister announced there were no plans to close down the Corporation and that the Government is committed to maintaining its operations.
This is a welcome assurance as it would not only save the future of thousands of the employees of the USC but also help shield the common man against exploitative tactics of the market forces. As for restructuring, it is the prerogative of the Government to introduce reforms for better management, operations on professional lines and prevention of corruption. It is hoped that the employees would not work with renewed zeal to turn the Corporation into a profitable and viable entity as it was during times when headed by visionary people. While appreciating the change of mind of the Government on the issue of closure of the USC, we would urge the authorities concerned not to sell profit earning institutions just for the sake of bridging the deficit. Media reports suggest the Government is considering going on a selling spree targeting profitable entities like OGDCL, PSO, Sui Northern, Sui Southern, PPL and PRL. No doubt, the Government is in dire need of raising money and the strategic sale of shares of profitable state-owned entities could yield necessary resources but in the long run the country would suffer. The proposal also confirms, once again, that the successive governments used privatization to overcome budgetary deficit, which is not a prudent approach.
