Pakistan Peoples Party (PPP) on Monday alleged that Pakistan has received $54 million from international donor agencies for privatisation of national strategic institutes.
“World Bank and other donor agencies have provided government a loan of $54 million for privatisation of national strategic institutes,” said PPP Senator Saleem Mandviwalla, who is also chairman of the Senate’s Standing Committee on Finance and Privatisation Commission. He further said that Pakistan is selling the national assets at any cost on the wishes of World Bank and IMF.
Saleem Mandviwalla, who is also former finance minister, said, “Chairman Privatisation Commission and his team are busy in road shows on heavy expenses in United States of America (USA), while the Parliament is protesting against the privatisation policy of government”.
He criticized the government for not taking parliament on board regarding privatisation programme. The Privatisation Commission is doing everything on its own; they don’t bother to tell anything to the parliament. Their aim is to fulfill the desires of IMF and World Bank, which will be resisted at every level, he added.
Senator Mandviwalla has said that the privatisation policy of the government has failed; it has risen questions on the transparency. Parliamentary committee is probing the privatisation of Heavy Electrical Complex (HEC), while National Accountability Bureau (NAB) has started its investigation against the suspicious sale of KASAB Bank.
Pakistan had announced power sector privatisation programme at a roadshow in Washington last week. Chairman Privatisation Commission Mohammad Zubair said Pakistan’s government is pursuing an ambitious privatisation programme in the power sector and is exploring various means of private sector participation in its thermal generation companies (Gencos) and distribution companies (Discos). The power sector entities for divestment with management control included Faisalabad Electric Supply Co Ltd (FESCO); Northern Power Generation Co Ltd (NPGCL-GENCO-III) - Thermal Power Station (TPS) Muzaffargarh (1350 MW); Lahore Electric Supply Company Limited (LESCO); Islamabad Electric Supply Company Limited (IESCO) and; Quetta Electric Supply Company Limited (QESCO). Also on the list are Lakhra Power Generation Company Ltd (LPGCL) (GENCO-IV); Peshawar Electric Supply Company Limited (PESCO); Central Power Generation Company Ltd (CPGCL) (GENCO-II) and Multan Electric Power Company Limited (MEPCO).
Senator Saleem Mandviwalla said the current government has put in trash the corporate governance rules 2013, which were aimed at bringing merit in Public Sector Enterprises (PSEs), instead promoted a culture of favoritism in every organization. He said that Pakistan People’s Party would challenge the appointment of MD PSO in senate; government has made non-transparent appointment of MD Pakistan State Oil (PSO), to make the LNG deal final. MD PSO is hired from a company, which is already in the business of importing LNG, which is the violation of rules. He said that LNG project is an example of corruption. The government is pressurizing the officials to sign the suspicious agreement of LNG import, it has fired the MD Sui Northern Gas Company limited (SNGPL), who had refused to sign the LNG deal.
Senator Saleem Mandviwalla said that the Faisalabad Electric Supply Company (FESCO) employees are protesting against privatisation, while Chief Minister Khyber Pakhtonkhawa has rejected the privatisation of Peshawar Electric Supply Company (PESCO).