Privatization Program | Need to be Alert | Flooding: High alert

The government had decided three months ago that in order to get the economy out of trouble and put the country on the path of development and prosperity, all other government institutions and departments except strategic ones will be sold to the private sector, while earlier only the loss-making institutions were privatized. The work was going on. The five-year privatization program covering 2024-2029 has been approved in the federal cabinet meeting held on Thursday under the chairmanship of Prime Minister Shahbaz Sharif. During this time, 24 institutions will be sold to the private sector in stages. , House Building Finance Corporation, 9 electricity distributors and 4 manufacturing companies, Utility Stores Corporation, State Life Insurance and Pakistan Reinsurance Company are on top. Cabinet has decided that this process will be completed soon.

Under the agreed program, the privatization will be completed in three phases. The sale of PIA and House Building Finance Corporation will be completed soon, after which the power distribution companies will come. Thus, in the first phase, Faisalabad, Companies in Islamabad and Gujranwala, Lahore, Multan, Peshawar, Hazara, Sukkur and Hyderabad will be taken over by the private sector. It should be noted that the National Privatization Committee had finalized the five-year privatization program in its meeting on August 2, 2024, which was submitted to the federal cabinet for final approval. It is hoped that 24 more privatizations will be successfully carried out in the light of the cases of the institutions that were privatized in the past and the circumstances arising from it. In recent days, it has reached 84 thousand billion rupees.

For the return of which, except taking new loans, the government does not have the resources. Privileges and pensions are at the top, while every year the huge amount of money left over after repayment of huge foreign debt installments and interest due on them goes to the government departments. Due to weak system and corruption, only 33% of the revenue targets go to the national exchequer. Export sector Suffering from a continuous deficit, even though the imports are in an unusual volume, the deficit is being met. The size of the State Bank's reserves has not increased to 22 billion dollars and this too has to be met from the commercial banks, which is currently the only competitor of the State of India. The size of the bank's reserves exceeds 600 billion dollars. The current seven months of the current government can be described as a continuation of April 2022 to September 2023 in terms of economic reforms, under which the program of privatization of loss-making public institutions was modified. The beginning of privatization.

It happened in 1988 and the top 4 banks were in it. In the light of the situations that happened in the past, this task is no less than a challenge, which is going to start with PIA. Its main condition is transparency and other institutions should ensure that it does not create unemployment, but creates new employment opportunities. The development of the private sector increases competition and creates conditions for new investments. If there are, increase in exports and permanent debt relief should be its motto.

 

Need to be Alert 

The Chief of Pakistan Army General Syed Asim Munir has once again highlighted the need to be vigilant about the fake news spread by anti-patriotic elements so that the plots of the enemy forces can be stopped. This is the summary of what he said in the solemn ceremony held in honor of Pakistan Army ex-servicemen on Thursday. This event was held in connection with the 77th Independence Day of Pakistan. A large number of retired army officers and soldiers participated in it. The army chief paid tribute to the services of the retired officers, and appreciated their dedication and role in making the nation's history. Military officers and soldiers, whether they are in service or retired, are seen with respect and pride due to their role in protecting the geographical borders of the country and in emergency situations. is strong The love between the army and the people of Pakistan, who were always willing to help in difficult situations, including the natural disasters that followed, from the safe delivery of families who left their homes in the Muslim-killing riots that spread in British India in 1947 to their newborn homeland. The relationship is very deep.

A few years ago, the research department of the European Union revealed numerous websites operating from India, spreading false propaganda against Pakistan. Anti-Pakistan forces are spreading such misleading material from different angles and places with the aim of breaking the unshakable confidence of the nation on the Pakistan Army. What the Army Chief said in his speech on Independence Day is the same as weakening the confidence in the army is like weakening the country. Every patriotic Pakistani must keep this aspect in mind at all times.

 

Flooding High Alert:

This year the intensity of heat was much higher than usual. The weather has improved a bit with the arrival of the monsoon, but hubris has not allowed business life to return to normal yet. At the same time, floods in streams, canals and rivers due to rains have exposed the whole country to the dangers of flood situation. Prime Minister Shehbaz Sharif has directed the National Disaster Management Authority, PDMAs, Rescue and Relief, Civil Defense, District Administration and other related institutions to be on high alert to deal with the upcoming difficulties and they will be on high alert until August 25th. Monitoring the severe spell dashboard itself.

The areas adjacent to the Chenab River may be more affected by the threat of floods, therefore the Prime Minister has directed the institutions to keep the people of the concerned areas fully aware of the flood situation and ensure advance safety measures. Every year during the monsoon rains and floods in Pakistan cause serious damage to human lives, livestock, residential houses and crops. Verbal claims of proactive measures are often made but rarely acted upon. Pakistan is currently suffering from severe economic crisis. Disasters of floods can increase this further, so it is important that the concerned institutions remain vigilant and reach out to help people wherever needed. Special attention should be given to relief activities in tourist areas where landslides and flood hazards make travel impossible. It is expected that aid agencies will face this challenge well.