Article Type

Article

Description

Pakistan was among one of the few developing countries in the early 1990s which initiated the process of privatisation of state-owned enterprises. Successive governments pursued the same policy and the results have been quite impressive.

Telecom, banking and financial services, cement and automobile sectors have performed extremely well and attracted substantial investment both from foreign and domestic investors after privatisation. For example, HBL and UBL were given a capital injection of Rs41 billion to compensate for their losses under government ownership. Since 2005, after they were privatised both banks are paying dividends, corporate tax to the government and the residual value of government shares has risen several fold.

Publication Source

Dawn

Publication Date

6-2-2011

Pages

1-3

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