Of evolution and privatisation
MULTAN:
The PPP leadership must pay heed to the warnings of Senator Raza Rabbani. As people’s patience is running out, his predicted bloody revolution might be in the making. However, while I do not doubt Rabbani’s credibility, his opposition to the privatisation of loss making white elephants like Steel Mills and PIA defies logic. Under this government, these state owned entities have seen their losses escalate. PIA had losses to the tune of Rs39 billion when this management took over and now its losses have climbed to over Rs75 billion, with billions more as liabilities in terms of unpaid debts and outstanding payments to Pakistan State Oil, Karachi Electric Supply Company and others. Taxpayers should not have to shoulder the burden of these loss making organisations.
Published in The Express Tribune, June 21st, 2010.
The PPP leadership must pay heed to the warnings of Senator Raza Rabbani. As people’s patience is running out, his predicted bloody revolution might be in the making. However, while I do not doubt Rabbani’s credibility, his opposition to the privatisation of loss making white elephants like Steel Mills and PIA defies logic. Under this government, these state owned entities have seen their losses escalate. PIA had losses to the tune of Rs39 billion when this management took over and now its losses have climbed to over Rs75 billion, with billions more as liabilities in terms of unpaid debts and outstanding payments to Pakistan State Oil, Karachi Electric Supply Company and others. Taxpayers should not have to shoulder the burden of these loss making organisations.
Published in The Express Tribune, June 21st, 2010.