In the story State assets sale fetches Rs 42 billion; (your issue of February/ 29) while the Privatisation Ministry continues to focus on transparency in the sale of Habib Bank, it does not clarify to the public, which has a direct stake of Rs 36 billion in this institution.
In respect of the following:
1. Which companies and individuals were involved in valuing the bank?
2. Would it not have been prudent for the sale to be discussed in Parliament, considering that the transaction involves writing off Rs 14 billion public money?
3. Could the sale not have been deferred?
4. What was the necessity of handing over the management control to the AKFED without receiving even the up-front payment of Rs 11 billion?
5. Are there safeguards to ensure that the Bank's funds and cash flow are not used for the purpose of meeting the purchase obligations?
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