Daily Times

ISLAMABAD: The federal government has to bear a major setback as administration and ministries of 11 public sector entities had opposed the privatisation of their units, while the government has resumed the privatisation process of Pakistan Steel Mills after Sindh government refused to take control, sources told Daily Times.

There were 13 industrial units in privatisation list of the government, but at the moment privatisation of only two units was in process while the remaining 11 have been put on hold, documents available with the scribe revealed. “The privatisation process of Pakistan Steel Mills as well as a heavy electrical complex was in progress. Sindh government was first interested in taking the steel mills for which the Privatisation Commission gave them enough time and wrote many letters. However, the Sindh government’s response lacked seriousness, so PC has resumed the process,” the source said, adding that privatisation of the Higher Education Commission would restart soon. Sources said that HEC’s present administration was not in favour of its privatisation. The HEC officials were of the view that paying salary to the staff from its own resources would be difficult for the commission, so there were no need for its privatisation.

The privatisation process of Pakistan Engineering Company, Pakistan Machine Tool Factory, Sindh Engineering Limited, State Engineering Corporation, National Fertilizer Corporation, Pakistan Steel Mill, Morafco Industries, Republic Motors, Pakistan Industrial Development Corporation Limited, Utility Stores Corporation and Pakistan Industrial And Technical Training Centre had been stopped and not initiated, as these units were not included in the list of early implementations.

Sources said that these units were controlled by the Ministry of Industry and Production, which viewed that these units were now performing well, as their balance and account sheets showed improved performance. The ministry officials urged the Privatisation Commission not to consider these units for privatisation.