This refers to the news item ‘PSM’s majority stake sale bidding set for March-April’ (Dec 16). The ministry of privatisation, headed by the federal minister, Mohammed Mian Soomro, is perhaps the worst performing ministry in the government of PM Imran Khan. Despite the lapse of more than three years, no headway has been made in the privatisation of scores of loss-making entities that are officially listed for divestment. The lone sale was that of the Services Hotel in Lahore some time back.
The privatisation of the country’s largest industrial undertaking Pakistan Steel Mills Corporation (PSMC), which has been shut since June 2015, has been in the news quite often during this regime but the process seems to be moving at a snail’s pace. Millions of rupees are being spent to look after the closed set up, while the infrastructure is rusting. Billions of rupees from taxpayers’ money are being spent on the set up of the privatisation ministry with fabulous emoluments to the transaction consultants without a quid pro quo. The privatisation ministry should either be abolished for its failure or talented people, who can deliver results and not waste precious resources, be appointed to it.
Arshad M Khawaja
Karachi
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