38 enterprises earmarked for Pakistan privatisation – but at mate’s rates?

PIA staff protest against privatisationPakistan privatisation: Prime Minister Nawaz Sharif’s ruling Pakistan Muslim League-Nawaz (PML-N) government prepared the groundwork for the privatisation of 28 state-owned organisations, it was revealed over the weekend, but according to sources close to the government the PM wants to sell them all either to close political allies or relatives at below market prices.
 About eight apiece of the enterprises earmarked for sales are in the oil and gas and banking sectors, with a further 16 in power generation and the rest in transport and retail estate. They include:

  •  OGDCL Pakistan Petroleum,
  • Murree Petroleum
  • Pak-Arab Refinery
  • Pakistan State Oil
  • Sui Southern Gas Sui Northern Gas
  • Pakistan Insurance Company
  • Small and Medium Enterprises
  • Investment Trust
  • National Insurance Company
  • State Life Insurance Company, 76% of the National Bank of Pakistan,
  • A 10% share holding inAllied Bank
  • 42% in Habib Bank
  •  Heavy Electric Complex
  • National Power Construction
  •  Multan Electric
  •  Pakistan Steel Mill,
  • Pakistan Engineering Company
  • PIA
  • The Islamabad Convention Center 

Earlier this month, at least three people were shot dead and 12 others injured during clashes at Karachi International Airport between security forces and Pakistan International Airlines staff protesting against the government’s plans to privatise the struggling carrier.