SC gives green light to OGDCL privatisation
Hearing the OGDCL case, the apex court in an interim order directed that OGDCL shares be sold out to companies with higher bids.
Notices in this regard have also been issued to the concerned parties by the court and the hearing of the case has been adjourned for three weeks.
In a concise statement submitted before the Supreme Court on Saturday, the federal government said that if the privatisation of 10% shares of the OGDCL was not completed, Pakistan would be exposed to ‘great financial loss’.
The government requested the top court to dismiss the petition of the Khyber-Pakhtunkhwa government against the privatisation of OGDCL. “It would be an irretrievable loss which would affect future prospects of foreign investments,” said the statement by Additional Attorney General Waqar Rana.
The federal government has alleged that the K-P government is attempting to create the impression of a national economic crisis, which simply doesn’t exist.
Since the PHC passed the restraining order, the value of OGDCL’s share has depreciated by about Rs20, it added. “If this uncertainty continues there is great likelihood that the share value will further depreciate. The loss already suffered on this account runs into 100s of millions of rupees.”
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The PTI government of KPK has failed to deliver and, as per party policy, is destroying Pakistan through its nefarious designs. Imran Khan is rightly called as yahoodi agent when he obstructed Chinese investment in Pakistan. As a result, more than US$ 20 Billion were diverted away from Pakistan to India. With this negative mindset, it can hardly secure any investment in the country or in the KPK province. http://tribune.com.pk/story/757921/bad-for-business-k-p-loses-out-on-foreign-investment-as-cm-declines-visit-to-china/ Unfortunately, PTI politics is impeding the economic development in Pakistan. IK & other PTI leaders must be arrested before they cause further harm to Pakistan!
SC should be privatized as well, since it is also not living up to the expectation and not able to provide justice in timely manner?
This means that of govt is incompetent and therefore not able to handle or turnaround an institution - ti is being privatized.. I don't understand this logic. As there can be ways to turnaround any institution(s) if there's a will and commitment to do so. One just needs to plan and vision how to do it which I guess doesn't exists in govt/previous govt. dictionary :(
Supreme national interest unfortunately starts and ends with kick backs and favors. Wonder when will the judges start declaring their assets!!!
Thanks SC for timely and just decision. Shame on KPK Govt.
And the supreme national interest, and the ghost of irreparable economic loss win again, thanks to the duo of SC and PMLN.
Bravo SC !! only if iftikhar chaudhary didn't do the blunders of judicial activism by paralyzing state and privatization of steel mill and other institution would have happened. I am sure our economy would have been more stable.
If it were PPP SC will call PM and insult him. Now in case of PMLN, SC has rejected the appeal of KPK government and did not provide justice.