'Government intends to turn around SOEs'

Minister for Privatisation, Senator Waqar Ahmad Khan said on Friday that the government intends to turnaround the State owned Entities (SOEs) and is endeavouring to make value addition in these entities through a total transparent and open process by taking on board all the stakeholders including workers of these entities, in particular.
According to a press release, Senator Waqar said that certain elements were misleading the workers of SOEs for their ulterior motives and political gains regarding the government's turnaround plan, which was never meant to sell off our precious national assets in haste or at a throwaway price. The government was determined to make improvements in the existing infrastructure of these entities and to get optimal production by capacity building, without retrenchment of a single worker by associating private sector through Public Private Partnership (PPP) mode, which would also provide fresh jobs through the expansion of these entities with fresh investments, he said.
The Minister categorically ruled out any outright sale of Pakistan Post Office Department, Islamabad Electric Supply Company, Pakistan Steel Mills Corporation or Pakistan Railways. The apprehensions of any retrenchment of the employees of these entities were baseless, as the government has undertaken the reinstatement of the dismissed and retrenched employees of the past, therefore, question didn't arise to make jobless the existing workforce.
Senator Waqar further stated that the pro-workers government has initiated a revolutionary Benazir Employees Stock Option Scheme (BESOS) to empower the 500,000 workers of 73 State Owned Entities through the free of cost distribution of 12 percent GoP shares in the respective entities, ensuring their representation on the respective Boards to have their direct say in the decisions and making them eligible for getting the benefits of dividends of the company.
Minister said that PPOD Ministry and the management have been assured that the concept to establish Post Bank would never affect other postal functions performed by PPOD including money order system and there would be not even a single termination of any employee of PPOD, however, the concept to establish Post Bank, 100 percent owned by GOP, would improve the revenues of PPOD and generate more employment opportunities, while enhancing human resource development programmes. The PPOD will play lead role in this process.
"We will never take any decision in isolation and against our mandate or law as we believe that every step for capacity building of SoEs requires consultations with the workforce, management and all the respective stakeholders, to take them on board regarding any improvement in their respective entities," the Minister concluded.-PR