Islamabad, November 05, 2014 (PPI-OT): Mr. Muhammad Zubair, Chairman Privatization Commission has said that the sale of OGDCL shares is not privatization. It is simple offloading of shares. He said this in a statement issued in response to a press conference by Senator Raza Rabbani this afternoon. “This OGDCL transaction is not privatization, this is simple offloading of shares”, said Zubair.
He further clarified that there is no change in management and no separation of employees will take place as a result of this transaction. In fact employees of OGDCL and common Pakistanis would benefit from current offloading. We are going to offer special price at which employees and common Pakistanis can buy and take advantage.
This is not a first time such a transaction is taking place, he reminded. Similar transactions were done in 2006 and earlier even during the last PPP tenure privatization was very much on the agenda including similar transactions. OGDCL transaction was attempted in 2010. It’s another thing that they could not successfully complete, said Mr. Zubair. Mr. Zubair further said that during PPP second tenure of Mohtarma Benazir Bhutto Shaheed, 27 companies were privatized which include both profitable and loss making entities.
For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +92-51-9252323 and +92-51-9252324
Fax: +92-51-9252325 and +92-51-9252326
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