ISLAMABAD: The Pakistan has drafted 68 public sector entities for privatisation but eleven will be privatised in first phase, Chairman Privatisation Commission Muhammad Zubair said.
He said in the case of five organizations, there would be capital market transactions to generate more revenues. He said remaining shares of the Government in Habib Bank, Allied Bank and UBL would be off-loaded through stock exchange and this would not involve any change in the management or status of the employees.
The Chairman said in the same manner, shares of OGDCL would be off-loaded through London Stock Exchange to earn foreign exchange and those of the Pakistan Petroleum Limited through Karachi Stock Exchange.
He said the objective is to unleash true potential of the organization identified for privatization. He said unleashing of their potential could help accelerate the GDP growth from the existing three to six or seven percent.
Muhammad Zubair said in the true sense of word, it is not privatization but strategic partnership as the government will still have shares and stakes in these organizations.