Restructuring public sector corporations

VIRGINIA: I’ve learned that the government has set up a cabinet committee to look into the restructuring of major public sector corporations. While I have respect for the members of the committee, I am concerned. The members may be intelligent and able, but they do not know much about restructuring large and complex public enterprises in a volatile, dynamic and rapidly changing domestic and external environment. This issue merits the attention of professionals with credentials, experience and a proven track-record of successful restructuring in Pakistan and elsewhere.

Moreover, the grim truth is that all over the world restructuring in the public and private sectors is accomplished by cuts in the labour force. If the present government wants to be perceived labour-friendly by not laying of its employees, the recommendations of the committee will be spurious and unrealistic.

Published in the Express Tribune, June 18^th, 2010.