PBIF concerned at slow pace of privatisation

Pakistan Businessmen and Intellectuals Forum (PBIF) president Mian Zahid Hussain expressed concern over slow pace of privatisation which is irking investors while keeping much-needed local and foreign investment away. He said that foreign investment has already dwindled 67 percent in July to October as compared to the last year, he added.
He said that government must tackle issues hurting sentiments of investors to make privatisation a success while money used to keep state-run companies alive should be spent on social uplift. Mian Zahid Hussain said that only a transparent process can help the country to achieve results without repeating history of Pakistan Steel Mills which stalled whole process of asset sale for long. Some experts said that privatisation is part of new global economic order to strip poor nations of its assets which should not be strengthened by officials involved in the sale of companies.