Safe sales

A Chinese consortium has acquired 40 percent shares in the Pakistan Stock Exchange (PSX). Almost a decade back, the Pakistani government sold the shares of the state-owned telephone company to an Arab investor. However, the government couldn’t recover $800 million from the investor due to some complexities in the share purchase agreement.

It is feared that history may repeat itself. Before signing the agreement, the government should have ensured that it can meet all of the agreement’s terms and condition. It should safeguard the people’s interests before it is too late.

Dr Inayatullah Faizy

Chitral