The Senate standing committee on privatization has announced plans to privatize 44 state entities in the next five years. In the first phase, they have allowed the divestment of government shares in three oil and gas entities i.e. OGDCL, PPL, and Mari Petroleum.

May I remind the government that these three entities have some share percentage in the off-shore block, off the coast of Karachi, that is being drilled by Exxon, and that is estimated to have Pakistan’s biggest deposit of oil and gas? Therefore, it only makes sense to divest the shares of the 3 oil and gas companies when the drilling is completed, and the share prices are much higher.

I think that some scamming characters are forcing the sale of these shares before their prices go higher. Therefore, the Prime Minister is requested to delay the sale of these shares, until the drilling process is completed in the new off shore block to fetch a much higher sale price.

ENGR SHAHRYAR KHAN BASEER,

Peshawar, February 23.