REJOINDER: Sale’s completion may take 2 years

PC says it can also help restructure and improve the SOEs where required

ISLAMABAD: With reference to a report published in The Express Tribune titled, ‘Privatisation Commission failing to plug losses’, the Privatisation Commission said that while a capital market transaction can be completed within four to six months, a strategic sale can take at least two years for completion. In a statement, the PC said that it is not just mandated to sell-off state-owned enterprises (SOE), but it can also help restructure and improve the SOEs where required. “It needs to be appreciated and recognised that is a lengthy process that requires meticulous examination of the legal, financial, technical and Human Resource realities of the concerned SOE.” The PC stated that it is fully cognisant of the fact that reducing financial burden on the national exchequer, improvement in quality of service delivery to the people of Pakistan, and welfare of the employees of SOEs are of utmost importance, and, therefore, all transactions carried out by PC are conducted in this perspective.

Published in The Express Tribune, February 21^st, 2017.