The Economic Cooperation Organisation (ECO) countries on Tuesday affirmed their commitment to carry on privatisation process, saying the time was ripe for the governments to walk out of business and other commercial activities and take the role of policy-making and facilitator for the private sector.
The ECC member countries made their commitment for privatisation during ministerial meeting held here. All ECO members are participating in the meeting. ECO Deputy Secretary General Mustafa Demirezen, in his opening statement, said the first ministerial meeting held in Tehran had undertaken the efforts for co-operation in industrial sectors, including: development of entrepreneurial skills, privatisation, post-privatisation support, SME support, reforming public enterprises through joint programmes, projects, workshops, and short as well as long-term training courses.
He said the member countries held meetings of heads of privatisation organisations and Expert Group Meeting (EGM) in Tehran in 2004. The meetings approved the draft plan of action on privatisation and submitted it to the second meeting for final approval, he added.
He said it included the main objectives such as expansion of economic interactions, promotion of foreign direct investment (FDI) and investment in the privatisation process, establishing a policy dialogue platform in the field of privatisation with a view to contributing to the efficiency of privatisation policies and programmes, and also contributing to development the private sector of the member states.
Mustafa Demirezen noted that the member countries expressed readiness to help the secretariat for establishment and smooth operation of ECO website on privatisation. Iran, Pakistan and Turkey expressed their willingness to provide the facilities and staff to support the secretariat, he added.
The action plan said the member countries will establish a high level expert group on privatisation and industrial development comprising experts of each member country.
Privatisation Minister Zahid Hamid said Privatisation, deregulation and liberalisation were cornerstones of the highly successful economic reforms coupled with consistency of policies and good governance, Pakistan's continues to register rapid growth, averaging more than 7 percent during the last four years.
He said during last seven years from 1999 to 2006 after General Pervez Musharraf assumed office, the Privatisation Commission carried out 61 transactions for a total amount of Rs 363 billion or $6 billion, 86 percent of total amount $7 billion realised from privatisation since the Privatisation Commission was established 15 years back.
Later on, Heads of Afghan delegation Hafizullah Wal Rahimi, Azer Bashirov Head of Department of Attracting Investment & Privatisation of Republic of Azerbaijan, Nozimov Mahmadshrif Deputy head of State Committee on Investment & Property Control of Tajikistan, Ali Guner Tekin Head of Department of Republic of Turkey, Heydari Korde Zanganeh Deputy Minister and Head of Board of Governors of Privatisation Organisation of Islamic Republic of Iran, Khalymbredi Second Secretary Turkmenistan, Bakhitbek Shabarbayev, ambassador of Kazakhstan and Oybek Arif Usmanov Ambassador of Uzbekistan made country presentations. The meeting decided to hold next ECO moot at Baku, Azerbaijan, in June this year on April 11.
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