Pakistan to start process of state sector units' sell-off

"Now when we are all set to complete most of the ongoing transactions by the end of the current financial year, preparations are foot to start the process of disinvesting bigger public sector entities from June 2007", said Minister for Privatisation and Investment, Zahid Hamid.

Talking to this correspondent, he said that mega transitions like Railways, PIA, CAA ports & shipping etc. were being planned for sell of from June this year with a view to further accelerating the process of privatisation in the country.

Responding to a question, he said that according to the decisions of the Council of Common Interest (CCI) taken in 1997, all bigger or small public enterprises will be privatised to make them efficient and avoid facing billions of losses every year.

"But before that we plan to complete our various ongoing transactions in a most transparent manner so that nobody could challenge them later at any stage", Hamid said adding that all the transactions so far completed by the PML government were handed over to the local and foreign investors without indulging in any unlawful activity.