Selling to bankrupts?

As the government of Pakistan embarks on its continued spree of privatizing state-owned enterprises, it goes without saying that most of the plums on its plate are on the brink. But the private sector, to whom the government wishes to sell its duds, is in no better straits itself. They are also in desperate need to have some government assistance to rescue them, to bail them out, as it is called. So who is the government befooling when it says the private sector is in a better position to run the enterprises that are failing under the government watch? There are reports that some 21 state-owned enterprises are being put on the block for privatization. In the developed countries like US, the government is 'nationalising' private enterprises, effectively buying industry that is failing in private hands. Our government is running the contrary course. A cursory glance at the rapid progress in our neighboring countries, India and China, would reveal that their progress, development and fast GDP growth has been led by state-owned industries. -ABDUL FATAH RUSTAMANI, Dadu, via e-mail, February 19.

ePaper - Nawaiwaqt