APROPOS the letter on the above (March 18) by Senator Taj Haider. As a student of business and a patriotic citizen, I endorse the learned senator`s point of view.
The pros and cons of privatisation have been the subject of considerable debate.
The point to note is that both Pakistan Steel Mills and PIA have been brought to this level of incompetence mainly because of mismanagement, corruption and politic al influence and interference.
The state should have no problem in resolving these minor irritants and reviving the industries if it means pun intended business. Where there is a will there is a way, we need sincerity and passion.
Our past record of the divestment of public assets is a sad tale. Prizes like MCB, HBL, KESC, PSX, PT CL etc, were sold at throwaway prices. It is commendable that the Supreme Court stopped the then prime minister Shaukat Aziz from privatising the PSM; otherwise the nation would have lost the PSM earlier.
Thepercepdonthatachangeinthe ownership is the only solution to turn around loss-making enterprises is not always true.
Public-sector corporations should be restructured and reformed to make them profit-oriented. There are examples both local and international where state-owned enterprises are running in profit.
The only solution is a revamping of the PSM and PIA.
