Senator Waqar Ahmed Khan Federal Minister for Privatisation has said that under Benazir Employees Stock Option Scheme (BESOS) so far 22,745 employees have been given 12 percent shares certificates in five entities. He was talking to 15-member delegation of Habib Bank Limited (HBL) Officers Federation of Pakistan led by Secretary General Muhammad Saeed Khan here on Wednesday.
Minister assured the delegation that all efforts were being made to implement Benazir Employees Stock Option Scheme (BESOS) to transfer the benefit of the scheme to the workers of the state owned entities and those privatised units where government holds shares.
He said that under the BESOS some 12 percent of the GoP shares are being distributed among the workers free of cost. He further said that around 500,000 workers of 80 units would get benefit worth Rs 100 billion and in addition workers would also get dividend on their unit certificates.
"So far 15 BESOS Trusts have been constituted and rest are in the progress and the employees representation on the Board of directors would empower them to participate in the decision making", he added. Under BESOS so far 22,745 employees have been given shares certificates in five entities namely Heavy Mechanical Complex (HMC), Oil & Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Sui Northern Gas Pipeline Limited (SNGPL) and Pakistan State Oil (PSO).
Soon init certificates of PIA, NPCC and NESPAK will be distributed in a ceremony at Lahore. The leader of the delegation and members of. Naveed-ur-Rehman (Co-ordinator), Farooque Raja (Lahore), Zulfiqar Bangash (Peshawar), Abdul Jabbar Thabo (Hyderabad) and Iqbal Kazmi, HBL Officer Federation of Pakistan lauded the efforts of the democratic government being undertaken for the welfare of the workers.-PR