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PFBA Co-Hosts An Interactive Session With Mr. Mohammad Zubair

At the invitation of the Chairman Pakistan Korea Business & Friendship Council Mr. Ahsan Zubairi, Pakistan France Business Alliance and other major bilateral business forums participated in an interactive session with Mr. Mohammad Zubair, Minister of State for Privatization of Pakistan as the Chief Guest.

The event was held on January 18, 2014 at the Marriott Hotel Karachi.  

The Minister of State for Privatization, Mohammad Zubair stated that he had invited suggestions from political parties, as the Government plans to privatize certain loss-making organizations such as the Pakistan International Airlines (PIA) and the Pakistan Steel Mills (PSM).
"We would welcome valid input from all major political parties, business leaders and media to make our privatization process more practical and generally acceptable. But, privatization of certain loss-making entities is unavoidable in the larger interest of the country and the people," the Minister said while addressing the representatives of the various business associations.

The Minister said that he had planned interaction with politicians on the privatization issue, adding that he would hold a separate session with the media to keep them abreast of true picture thus keeping them on board.

Mr. Zubair said that certain political parties which earlier used to support privatization and it was a main point in their election manifesto were now opposing privatization of the public sector institutions like Pakistan International Airlines and Pakistan Steel Mill. He pointed out that 50 per cent of PSM's officers had low education of 8th class to High Secondary (Intermediate) and it would not be wise to continue with such employees.

The Minister stated that the Prime Minister Mian Muhammad Nawaz Sharif was supporting the privatization process. However, he emphasized on maintaining transparency, saying "transparency should be name of the game."

Mr. Zubair said that the Privatization Commission had placed 18 public sector entities on the privatization list and said that the Economic Coordination Committee (ECC) and the Federal Cabinet had approved the Privatization Commission's plan for privatizing PIA and PSM.

The informative session with the Minister was followed by a Question & Answer after which mementos were offered to the Chief Guest and a vote of thanks was presented by the PFBA Senior Vice President Mr. Saeed Allawala.

Pakistan France Business Alliance is proud to have participated in this dynamic and enlightening event.