KARACHI:
Pakistan Peoples Party (PPP) will resist privatisation of 69 state owned units, including Oil and gas Development Company Limited (OGDCL), by the federal government, PPP Senator Mian Raza Rabbani said on Wednesday.
“We will stand with the workers of OGDCL, if they take to the streets against the government,” Rabbani announced at a press conference.
“PPP will not support privatisation of any unit,” he said flanked by Senator Saeed Ghani and other party leaders at PPP Media Cell.
Rabbani alleged the government intends to appease the International Monetary Fund (IMF) to qualify for the next tranche of the fund.
He pointed out that past governments justified privatisation of loss-making units. “The OGDCL is a profit-making unit. It produces 55% of local oil and 28% of gas,” he highlighted.
“OGDCL sell-off is against the constitution,” he said pointing out that the provinces have 50% stake in the company.
Published in The Express Tribune, November 6th, 2014.
COMMENTS (4)
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Worst part of the whole transaction is that the proceeds would be used to meet budget deficit relating to non development expenditure.
@syed umer: your finance is weak
Privatization or Sale of shares of O.G.D.C. should be sold through stock exchange not through Book binding. it is against the law to sold profit building/earning department, how the poor can be benefited from such a sale.
If no Privatisation of any of the State Instiutions how does PPP propose to remedy all their financial problems. Or in fact what did you try and do to fix those state institutions in the 5 years that you were running the show?