Govt wants to realize maximum potentials of SOEs: Waqar
 

Islamabad, February 8, 2010

 

(APP): The government, through value addition, would enhance efficiency and competitiveness of state-owned entities to maximize earning through their privatization, Minister for Privatization, Senator Waqar Ahmed Khan said on Monday. “We want to realize maximum potentials of the state-owned enterprises (SOE) by enhancing their cash value through value addition, besides enhancing their efficiency and competitiveness for getting higher process in the process of privatization for the benefit of the country”, Senator Waqar Ahmed told a press conference here.

Senator Waqar while highlighting his recent meetings with international investors on the sidelines of Friends of Democratic Pakistan (FODP) held in Dubai, said that major international financial institutions and investors have expressed their satisfaction on the prudent economic policies of the government and shown their keen interest to participate in the privatization programme of the government.

Pakistan, he said is a land of opportunities for investors adding Pakistan wants to realize the maximum potentials of its resources and enhance production for the benefit of the people in the country.

Replying to a question, he said that Government and Etisilat want to resolve the outstanding dispute amicably and hoped that the the issue would be resolved next month.

The Minister for Privatization said that besides strengthening and enhancing the SOEs, the President and Prime Minister wanted to empower the employees of the institutions.

He specially mentioned the launching to Benazir Employees Stock Option Scheme (BESOS) to achieve this objective.

The Minister said that President Asif Ali Zardari and Prime Minister Syed Yusuf Raza Gilani attach great importance to the scheme, which ensures empowerment of the workers who have devoted their sweat and blood for the development and progress of their respective entities.

Senator Waqar said that BESOS was the hallmark of the present Government’s pro-workers policies, which would ensure the improvement in efficiency, quality and production and increase the value and profit of the company.

He added that it would make the workers responsible in further improving the overall performance of the entity and their representation on the Board of Directors would directly involve them in the decision making process for the progress of the entity, he said.

Senator Waqar added that the scheme was historic and would usher a new era of workers revolution who were being given free of cost 12 per cent of the GoP shares in the SOEs and the entities already privatized.

The scheme is not limited only to the non-privatized entities as it also includes all the privatized entities having GoP shares.

The scheme is expected to benefit around 500,000 employees of 80 entities.