State owned entities: Employees get 12% shares free

ISLAMABAD:

12% shares of 59 State Owned Entities (SOEs) have been distributed free of cost among 236,306 employees under the Benazir Employee Stock Option Scheme (Besos).

The majority of the beneficiaries belong to the power and energy sector, an official of the Ministry of Privatization said. He said that a Trust of 59 SOEs had been registered and unit certificates had also been delivered to their respective employees.

“Peshawar Electric Supply Corporation (Pesco) remained at the top, benefiting 16,933 employees under the Besos scheme, while Pakistan International Airline stood at second position, benefiting 16,865 employees,” the official added. It may be recalled that BESOS scheme was initiated to empower the workers of SOEs for their economic betterment and to enable direct participation in the decision making of their respective entities.

Published in The Express Tribune, April 13^th, 2012.