ISLAMABAD: The federal government is planning to privatize more departments and organisations besides downsizing of human resource in other establishments.
Official sources said that Prime Minister Shahbaz Sharif had directed the ministry of finance and the Privatization Commission to come up with proposals for privatizing other departments and downsizing the human resource in organisations.
Pakistan Stone Development Company and Pakistan Automobile Corporation have been listed for privatization in the next phase, said the officials privy to the development.
They said that the government wanted to initially privatize these departments and at a later stage a decision would be taken to abolish them all together.
The officials said that dozens of departments and organisations owned by the government had become a white elephant and there was no need to retain them. The expenditures incurring on these departments and organisations were adding to the financial burden of the government.
Pakistan has succeeded in securing another IMF loan recently and the Prime Minister said that the IMF conditionalties were very harsh but they had to ve fulfilled.
The IMF conditions included downsizing and rightsizing of the government departments and employees and abolishing subsidies that were being given to the masses.
