Not for sale

Wednesday, Jul 27, 2022

The current government of Pakistan has passed an ordinance to allow the sale of government owned assets to foreign countries, bypassing all laws and future investigations. In the first phase, the government wants to sell the shares of oil and gas companies and state-owned power plants to wealthy Persian Gulf countries such as the UAE. It is a very dangerous move to sell high value, profitable and critical assets to foreigners, especially when these assets are undervalued, generate recurring income and provide services that are essential for the progress of Pakistan. Furthermore, Pakistan can use these assets to obtain loans easily.

If the government really wants to sell national assets then they should sell non-essential or loss-making companies like Pakistan Steel Mills. This might turn them into profitable and job-creating companies. I therefore request the government to stop the sale of essential government organizations and withdraw this ordinance, which bypasses all the rules and procedures to achieve nothing significant.

Engr Shahryar Khan Baseer