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Khurshid criticizes privatization of strategic industries
By Ahmed Hassan
Thursday, 06 Nov, 2008
ISLAMABAD: Senator Prof. Khurshid Ahmed of Jamaat Islami has strongly criticised the governments declared intention to privatize some of the strategic industries simply to get a few billion dollars to makeup for foreign exchange depletion.
Referring to a media report in which it was said that National Power Construction Company, Heavy Electrical Complex and the strategically important Qadirpur Gas field were lined up for this loot sale Mr. Ahmed said It is tragedy that the privatization minister has called this policy of blunder and transfer of national assets to foreign hands a corner stone of the economic agenda to generate funds for bringing the balance of payment gap.
Balance of payment gap can be met only by promotion of exports and drastic curtailment of imports and it could definitely improve by mobilization more direct foreign investment from foreign investors as well as Pakistanis expatriates. He contended.
Prof. Khurshid said But to sell the national assets to provide support to balance of payments cannot be called a sane policy and rather it is a blunder which would cost the country immensely both in economic terms and our strategic security concern.
The government, Prof. Ahmed said must revisit this policy and take the parliament into confidence to formulate a policy based on national consensus ensuring Pakistans ownership of strategically important industries, particularly those related to heavy machinery, gas, petroleum, electricity and communications.
He said all these units have serious defence and security implications which constitute the backbone for national self reliance and the government must not privatize such industries for temporary relief to balance of payments deficit, which can be met by resorting to other means.
By Ahmed Hassan
Thursday, 06 Nov, 2008
ISLAMABAD: Senator Prof. Khurshid Ahmed of Jamaat Islami has strongly criticised the governments declared intention to privatize some of the strategic industries simply to get a few billion dollars to makeup for foreign exchange depletion.
Referring to a media report in which it was said that National Power Construction Company, Heavy Electrical Complex and the strategically important Qadirpur Gas field were lined up for this loot sale Mr. Ahmed said It is tragedy that the privatization minister has called this policy of blunder and transfer of national assets to foreign hands a corner stone of the economic agenda to generate funds for bringing the balance of payment gap.
Balance of payment gap can be met only by promotion of exports and drastic curtailment of imports and it could definitely improve by mobilization more direct foreign investment from foreign investors as well as Pakistanis expatriates. He contended.
Prof. Khurshid said But to sell the national assets to provide support to balance of payments cannot be called a sane policy and rather it is a blunder which would cost the country immensely both in economic terms and our strategic security concern.
The government, Prof. Ahmed said must revisit this policy and take the parliament into confidence to formulate a policy based on national consensus ensuring Pakistans ownership of strategically important industries, particularly those related to heavy machinery, gas, petroleum, electricity and communications.
He said all these units have serious defence and security implications which constitute the backbone for national self reliance and the government must not privatize such industries for temporary relief to balance of payments deficit, which can be met by resorting to other means.
