Privatization Of Non-profitable Organizations To Strengthen Economy: Fawad

ISLAMABAD, (UrduPoint / Pakistan Point News – 13th Nov, 2023) Caretaker Minister for Privatization Fawad Hassan Fawad on Sunday said that the privatization of non-profitable organizations is imperative to strengthen Pakistan’s economy.

We are losing millions of rupees every day for running the sick units, he said while talking to a private television channel.

The Caretaker government is taking all necessary measures to privatize some services of Pakistan Airlines, he said.

In reply to a question about Steel Mills, he said every government had to bear huge losses due to the low production of Pakistan Steel Mills. There is a need to safeguard the economy of this country without wastage of time, he said adding that we should speed up the privatization process to benefit the people.

To a question regarding privatization of House Building Finance Corporation, Banks, DISCOs, he said it will take time to complete the task of privatization. Hard decisions regarding privatizing sick units are need of the hour, he said.

To another question, he said we can bring improvement by focusing on management and governance sides. To another question about employee issues after the privatization process, he said the genuine rights of employees would be protected before privatizing non-profitable units.