"The PPP stands with the labourers. We have opposed and will continue to oppose the privatisation process," said Senator Raza Rabbani while addressing the protesting workers of OGDCL.
Hundreds of the OGDCL and the PPP's labour wing workers participated in the sit-in. The labours expressed gratitude to the PPP leaders for standing them in good stead and vowed to continue the struggle unless the privatisation process is shelved and the privatised corporations are nationalized again.
The government on Saturday announced that it was pulling back from the planned privatisation. It had offered 311 million shares at the rate of Rs216 per share; however, it received the offer for buying of only 162 million shares during the three-day bidding process.
According to Senator Saeed Ghani, the government has put 69 companies on the privatisation list. He said only 11 of them are reporting financial losses while the rest are profit-making companies.
Published in The Express Tribune, November 10th, 2014.
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Of course they do. How else you will stuff your party people to jobs. There were thousand of workers regularized by the PPP premier in the steel factory, which is causing billions to keep white elephant alive. Same at PIA. Shall I continue.....
The PPP destroyed PIA and are against privatization because their people who got jobs through nepotism would get fired.
When some one else loots and plunders it hurts the PPP's sensibilities........Privatisation is a good thing because governments, especially inept ones, should never in the business of running businesses.
The disappointing turnout of the offer shows the pertaining low-confidence level of the investors. The Govt. should realise that they need to restore / increase investor confidence before earmarking more privatization projects. Considering the financial strength of OGDCL, this indeed is shocking.