President seeks proposals for privatisation of Public Sector Enterprises

ISLAMABAD: President Asif Ali Zardari on Monday advised the government to finalize proposals for the privatization of Public Sector Enterprises within four weeks. At a meeting with a delegation of Pakistan Business Council here at the Aiwan-e-Sadr, the President asked for setting up a committee comprising federal ministers for Privatization, Finance, Petroleum, Water and Power with representatives of private sector. The meeting was in continuation of President’s earlier meetings with Pakistan Business Council, the recent one held on April 29, to seek their input and full participation in overcoming economic challenges and for better economic management.The President said that for sustained economic development and recovery it was essential that the government and business communities continue to partner in the formulation and implementation of economic development policies to create more business opportunities and to ensure continuity of policies.The President reiterated his call and underscored the need for business communities to step forward and create consensus about overcoming economic challenges and to own and ensure continuity of economic development policies.

He complimented the Pakistan Business Council for their help in identification of major economic issues and for their endeavours to seek consensus of all stakeholders in order to tackle those issues.Lauding the role of businessmen, the President said that they were the invaluable assets of the country and any meaningful economic development was not possible without their enterprise, cooperation and sincere input.The President said that law and order and energy crisis were the biggest challenges and the government was trying its best to address those issues to facilitate businesses in the country.He said that various reforms  were being introduced to help the economy put on sustainable path of progress.Representative of the Pakistan Business Council gave a detailed presentation with focus on the restructuring of State-Owned Enterprises, energy and equity market.
The President welcomed the suggestions put forth which, he said, would be considered by the government.

Those who were present during the meeting included Asad Umar, Abdul Razzaq Dawood, Ali S. Habib, Atif Bokhari, Bashir Ali Mohammad, Farooq Shakoor, Iqbal Lakhani, Mian Muhammad Mansha, Sikandar Mustafa Khan, Zakir Mehmood, Gohar Ejaz, Shahzad Ali Khan, Yasin Siddik, Ahmed Kuli Khan Khattak, Munir Kamal, Arif Habib and others.Minister for Finance Dr. Abdul Hafeez Sheikh, Minister for Privatization Ghous Bux Khan Maher, Minister for Water and Power Syed Naveed Qamar, Secretary General M. Salman Faruqui, Adviser to Prime Minister for Industries Muhammad Basharat Raja, Deputy Chairman of Planning Commission Dr Nadeem-ul-Haq, Minister of State for Foreign Affairs & Finance Ms. Hina Rabbani Khar and other senior officials were also present during the meeting. – APP