Many of the state enterprises are already on the verge of an economic collapse
HYDERABAD: As many of the state enterprises are already on the verge of an economic collapse, the government now plans to sell off the assets of these entities at throwaway prices. Under its liability settlement plan, the central government would clear the outstanding dues of the Pakistan Steel Mills (PSM) against other national enterprises, including Sui Gas and National Bank of Pakistan, by selling the land owned by the PSM. As the federal government has probably run out of its capacity to offer the PSM another monetary bailout package, it would now sell the land worth billions at a loss-making rate. It is due to the massive corruption of successive managements that the state-owned industries have to clear their dues now by losing their own assets.
Zaibunissa Waleed
Published in The Express Tribune, October 24th, 2017.
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