World Bank said that government should bring the shares of the companies to the stock market and privatize them transparently.


Islamabad: The World Bank has raised questions on Pakistan’s privatization process.
According to details, World Bank said that privatization process will be affected by political interference or cases in the courts. The profit of Pakistani government companies is the lowest among South Asian countries. In 2014, the profit of Pakistani government companies was 0.8 percent of GDP and in 2020, the losses of state-owned companies were equal to 0.4 percent of Gross Domestic Product (GDP).
The World Bank said Pakistan's privatization program has stalled since the Supreme Court's 2007 ruling. The Supreme Court's judgments of Pakistan Steel Mills and Reko Diq cases made Pakistan emerged as a global treaty defaulter.
According to the World Bank, there was a further delay in the privatization of Pakistan Capital Act during the era of Pakistan Tehreek-e-Insaf (PTI). The privatization of the power sector institutions could not be done due to the labor union. While even after the privatization of K-Electric, the performance remained unsatisfactory.
The World Bank added that even the political parties do not agree on the privatization program and state-owned companies of other countries are likely to face court cases over privatization. The government should bring the shares of the companies to the stock market and privatize them transparently.

Could this $10 weightlifting supplement be a depression treatment?
- 4 hours ago

Pakistan, India will find solution themselves: Trump's response to rising tension
- 3 hours ago

Motorways Police action against Ducky Bhai
- an hour ago

PM determined to give befitting reply like 2019 against India’s attempt
- 4 minutes ago

The real quest for fake blood
- 4 hours ago

US President to restore foreign students' legal status
- 27 minutes ago

Gen Z is finding religion. Why?
- 4 hours ago

India closes Attari border, people coming to Pakistan stuck
- an hour ago

Passing out parade at PMA Kakul, political, military leadership present
- 2 hours ago

Imran Khan's letter to CJP, Acting CJ of IHC
- an hour ago

Heat wave forecast in country from today
- 3 hours ago

US offers Saudi Arabia $100bn defense deal
- 3 hours ago