Privatisation Commission: Claims to empower govt employees

Privatisation Commission working through the Benazir Employees Stock Option Scheme (Besos).

ISLAMABAD: The Privatisation Commission is working to empower the employees of state-owned enterprises through the Benazir Employees Stock Option Scheme (Besos).

A press release issued by the commission said the hallmark of the present government is to empower the workers of State Owned Entities (SOEs), through ownership and giving them a direct say in decisions of respective boards. “The Besos will benefit more than 200,000 workers of above 55 entities through respective Besos  Trusts established”.

The commission’s board has authorised the Privatisation Commission to use funds for campaigning Besos in electronic and print media, the press release said.

The privatisation board has given its consent to use the money on the guarantee that the finance ministry would fully reimburse the funds used. However, the finance ministry has refused to do so.

The press release said that the Privatisation Commission had used funds to campaign for the flood victims. However, the commission is authorised to only use funds for privatisation transactions-specific spending. Funds for the flood campaign would have had to be used from the privatisation minister’s discretionary fund.

Published in The Express Tribune, December 29^th, 2010.