Minister for Information Technology Sardar Awais Ahmad Khan Leghari has said privatisation of Pakistan Telecommunication Corporation (PTCL) was essential for sustaining current Rs 29 billion per annum profits on permanent basis. "After three to four years, it will be impossible for PTCL to endure current high level of profits. Even rupees three to four billion profit earnings would become impossible if it is not privatised," he told Geo TV.
Handing over the management on 26 per cent shares was aimed at securing current healthy profit trend, he said. The competition with private companies would be very difficult as they were far more efficient and running their businesses more prudently on minimum expenditures, he said.
Certain Mafias were trying to mislead employees as well as union leaders on the issue. Telecommunication act and agreement with union provided complete job security to the employees. However, privatisation would not be stopped in any circumstances, he emphasised. Unprecedented benefits were being offered to workers including 30 per cent rise in salaries, he said.
To a question he said that the government would not ever closed the doors of negotiations with anybody.
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