MINISTER for Privatisation Fawad Hasan Fawad has said the government’s top-most priority is the privatization of PIA because of its unsustainable losses and increasing debt burden. In an interview, he said the Privatization Commission remains committed to performing under challenging circumstances and remaining accountable to people for transparency and public good in every single transaction.
People had expressed satisfaction when a person like Fawad Hasan Fawad was assigned the portfolio of privatization as he is known for his vision, hard work and integrity and the work plan being followed by him sparks confidence about fulfilment of the aspirations of the people about complete transparency of the process. In fact, he also proved this by recommending annulment of plans for privatization of the Pakistan Steel on single bidder basis, which was not an appropriate course for disposal of an important national asset. His focus on PIA is understandable as the national flag carrier is facing serious challenges and wholesale disruption of its flights sent a dismaying message to all concerned. However, privatization should not be done for the sake of privatization and market conditions must be kept in view while making decisions to sell institutions that are otherwise viable but have fallen victim to neglect. The Privatization Minister said they are also working with the Ministry of Power for private sector management control and operations of DISCOs with the sole purpose of reducing massive losses to the public exchequer. No doubt, the energy sector has become a headache both for the government and consumers because of rising circular debt, unaffordable tariff, massive corruption, theft and worn out distribution and transmission systems and the future plan should address these issues adequately.
