ICCI for privatising PSEs

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ISLAMABAD ICCI President Zafar Bakhtawari has said that the loss incurring public sector enterprises should be privatized as PSEs drain away a significant chunk of government resources and cause huge financial losses to the national exchequer.

In his statement issued here on Thursday, he said the only feasible method of turning around these organisations and making them profitable is to privatize them by handing over their management to private sector professionals. He said that the public sector entities including Pakistan Railways, Wapda, PIA, Steel Mill and many other PSEs are incurring a loss of over Rs. 600 billion annually, therefore, they should be privatized because privatization reduces economic inefficiencies and fosters competition.

ICCI President said that despite being one of the most important institution, Pakistan Railways was facing the worst loss in history and has suffered losses more than Rs 52b in the last three years while PIA losses has also increased Rs 150 billion. Thus, Privatization of Public Sector Enterprises (PSE) is essential for making them efficient and profitable, he maintained.

Courtesy: The Nation

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