This short EBook is an expanded version of my article “Privatisation in Pakistan” which I wrote soon after my retirement as Federal Secretary to the Government of Pakistan, Ministry of Privatisation in 2012. It attracted a lot of attention prompting me to write a full -fledged book on the history of privatisation in Pakistan and other related issues including its prospects and the challenges it is going to face in short to medium term..
Devoid of technical terms and written in an easy to read language, this short book is for general readership, particularly for those who need to know what is happening to Pakistan privatisation efforts after coming into power a business-friendly regime of Pakistan Muslim League in 2013.
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Need for Privatisation
Generally, the state has one or more of the following objectives of privatisation;
1.Strengthening of private sector. This was the motive behind the first generation of privatisation carried out in Pakistan in 1960s when the state built factories in strategic sectors and handed them over, at very nominal rates, to the businessmen who were reluctant to invest in these sectors due to paucity of requisite resources at their disposal and high risks involved.
2. Improving the efficiency and service delivery of the SOEs, whether profitable or not, by bringing in the incentive and reward mechanism of the private sector who would inject capital, technology and better management practices. Pakistan privatised bulk of its SOEs in the second generation privatisation carried out in the 1980s and 1990s.
3.Eliminating/reducing the huge state subsidies being given to those SOEs which are continuously incurring losses but they cannot be closed because of social welfare considerations or their strategic nature even though better alternatives are now available in the private sector.
This is the philosophy behind the third generation of privatisation in Pakistan in 2000s and it is still being done under Public, Private Partnership (PPP). Here at least 26 % of the shares with management control of an SOE are given to a strategic investor who injects capital and improves the management
4.Raising funds in the local and global capital market by divesting shares of the profitable SOEs. This is resorted to when the state needs cash and starts selling shares of its blue chip SOEs in the global market or locally.
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Dutch
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Already translated.
Translated by Mohamed Zaim
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Author review: Mohammed Zaim translated my book "Privatisation in Pakistan: Challenges & Response" into Dutch. What is amazing is that he completed the task in just 3/4 days-remarkable speed. And that too without compromising the quality of the book. Grateful. Regards. Shahid |
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Italian
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Already translated.
Translated by Giovanni Torremacco
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Author review: Giovanni Torremacco translated my ebook "Privatisation in Pakistan: Challenges & Response" into Italian. It is a faithful translation, keeping the essence of the original. I appreciate her efforts to finish the task within the timeframe agreed. |
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Portuguese
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Already translated.
Translated by Gisely dos Santos Ganoza
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Author review: I am glad that my book "Privatisation in Pakistan: Challenges and Response" was translated into Portuguese by Gisely dos Santos Ganoza. I must place on record my appreciation for the hard work done by the Santos Ganoza making it possible to complete the assignment within the time limt. Quality of translation is extremely goog. Thanks Ganoza |
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Spanish
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Already translated.
Translated by Martín Nicolás Kavaliunas
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Author review: Martín Nicolás Kavaliunas translated my ebook "Privatisation in Pakistan: Challenges and Response" into Spanish, a faithful translation. The translator not only adhered to the timeline agreed upon but also kept me informed of progress. |
