Burden on exchequer: government urged to privatise state entities

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Chairman Kh Zarar Kaleem has urged the government to privatise the state owned entities, as these are burden on the national exchequer. The Regional Chairman while quoting the example of Karachi Electricity Supply Company (KSEC) said that the government not only got rid of deficit after its privatisation but services to the consumers were also improved.
The PIA deficit amounting to Rs 30 billion is also a burden that employed 675 employees per plane, he said. "If FBR is also privatised, the revenue would be doubled within three years" he added. He said that without overcoming the ongoing energy crisis, the revival of industry would not be possible. He urged the government to withdraw five percent Regulatory Duty on furnace and metal scarp which is adding to the cost of business on one side and encouraging smuggling on the other, he maintained. He also stressed the need for taking the stakeholders on board while evolving economic policies.