The government is planning another dose of wholesale privatization of its assets. Last time the PPP government botched up the telecom spectrum auction, it allowed the bidding parties to make all pre and post biddings in installment and the payments were made in Pakistani Rupee, which was not a very beneficial act. The government is requested to take all payments in USD. Moreover, all outstanding payments, spread over a longer duration than 5 years or more (it should not be more than 3 years) should also not be allowed. A longer period gives the buyer time to convert the payment terms. This also negates the policy of the government, to bring in fresh foreign investments through these auctions or privatisations. If the government is not getting any foreign investment from foreign firms then the whole purpose of the exercise becomes pointless.

SYED NAYYAR UDDIN AHMAD,

Lahore, December 20.