Decision to unbundle SOEs lauded - AsiaNet-Pakistan

Decision to unbundle SOEs lauded

November 30, 2020 | | Share:

Islamabad, November 30, 2020 (PPI-OT): Former President ICCI Shahid Rasheed Butt on Monday lauded the decision of the Prime Minister Imran Khan to downsize state-run-enterprises wasting trillions of rupees annually. Around 4500 employees of the Pakistan Steel Mills have been terminated which will reduce salary burden by 50 percent to Rs170 million, he said.

The business leader said that the remaining staff of the steel mills should also be terminated as the unit is closed since 2015 but employees are enjoying salaries and other perks resulting in a total loss of over Rs300 billion. He said that retrenchment should also be initiated in Railways which has wasted hundreds of billions of rupees while there are 14500 employees in the PIA causing colossal losses therefore almost half of the staff should be shown the door without any delay.

Shahid Rasheed Butt said that these institutions are waiting trillions and the government has to get hefty loans on harsh conditions to keep them alive artificially which is not sustainable. He called upon the opposition to avoid making economising in failed institutions an issue while the government should declare trade unions illegal if they start an agitation. The government should limit the working hours in commercial centres following the steps of developed nations which will save electricity worth billions, he demanded.

For more information, contact:
Dr. Shahid Rasheed Butt
Consul General Ghana
Former President ICCI
Former Patron ICST
Tel: +92-333-5132199, +92-51-2822571

The post Decision to unbundle SOEs lauded appeared first on Business News Pakistan.

Category: English, General Business News