Minister for Privatisation Dr Hafeez Sheikh while terming the transaction of Pakistan Telecommunication Company Limited (PTCL) as pro-employees privatisation, said they were the main beneficiaries of that deal. It would not affect the rights of employees because a five billion rupee's package had been announced for them, the minister told BBC Radio.
He said the government was also giving 2.6 percent shares to them while the new company had promised to organise new training programmes for the employees and provide job opportunities to them in other countries.
He said all the facilities and incentives were being given to the employees, their salaries had been increased, adding it was in fact a pro-employees privatisation.
To a question, he said no offer was made by the employees unions to purchase 26 percent shares of the PTCL, adding there was no logic in such offer because it was very big transaction.
He said major multinational companies expressed their interest in getting the PTCL shares, adding its privatisation was part of the government's policy to lead Pakistan to the 21st century and increase foreign investment.
Asked were the shares of the PTCL sold at right price, the minister said all the experts and analysts were satisfied with the price, adding it would increase foreign investment in the country on one hand and on the other it would also help reduce foreign debt burden.
To another question, he said a decision had already been made that the arrested employees would be released. "I think all the employees should be released, if they are not released so far, he added.
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