PC collects Rs395b in 15 years
By Asad Cheema

ISLAMABAD—The Privatization Commission in fifteen years since July 1991 to Fiscal Year 2005-06 has received amount worth of Rs. 395.2380 billion from the privatization of a number of industrial, financial and other organizations and 90 per cent amount spent on the payment of foreign loan while 10 per cent spent on Poverty Alleviation Programme.
A report issued by privatization commission said that under the privatization programme, the Privatization Commission has collected Rs. 241 billion by selling its shares in the banking sector and seven banking units.
Rs. 31.78 billion has been received through capital market, Rs. 57.5590 billion through electricity sector while Rs. 186 billion collects by selling government's shares in Telecom Industry.
The privatization commission has get Rs. 90 billion by selling unprofitable units of cement, chemical/fertilizer, engineering, Ghee Mills, Rice / Roti Plants, textile and tourism industry.
It was said in the report that the government by continuing its privatization process would sell its share worth of Rs. 5 million in Pakistan
Steel Mills, Karachi Shipyards and shipbreaking industry in Gaddani. The report said that international organizations declared the privatization programme transparent.