The decision of the government to privatise 10% of the shares of Oil and Gas Development Company Limited has been criticised by All Pakistan Labour Union Vice President Abdur Rashid Shinwari.
In the year 2013-14, the net profit of the company was around Rs124 billion, Shinwari said at a news conference at Kohat Press Club on Saturday. There has also been an increase in the production of crude oil and gas and recently two new hydrocarbon reservoirs have been explored. “All this is because the company is stable.”
The government should privatise those organisations which are running in loss, he added. “Corruption and poor management also affects the efficiency of a company. If the government does not take back its decision of selling the shares then the labour union will go on strike and hold protests from K-P to Karachi,” said the union’s vice president.
Published in The Express Tribune, August 10th, 2014.