Plight of 40000 T&T,PTC, PTCL Pensioners (Callous Privatization)
This is in view of approval of 31-state owned entities’ privatisation by Privatisation Board.Privatisation of the industries/organizations is essential in certain cases and in current scenario but it must be kept in mind that what had been the impacts of previous such practices.A major example in this regards is Pakistan Telecommunication Company Limited where sale of 26% shares resulted in handing over the administrative control of the organization to the purchaser.Despite being holding 62% shares of the entity,it is strange that full administrative control be given to a mere 26% share holder.Moreover precious land of the country transferred to a foreign company which may itself be more than the actual amount of the bid.
The government failed to recover the amount 800m$ from the company even after 6-years.The previous as well as current government failed to get this amount despite numerous attempts.Moreover the rights of the fourty thousand ex-employees have been usurped by the company by not allowing increases announced by the Government as determined in SPA (Share Purchase Agreement).These elderly retired Civil Servants served the country for their lives in Pakistan Telegraphs and Telephone Department but now slaughtered by the purchaser and Government of Pakistan despite being the guarantor of the rights of these pensioners,is also keeping mum on the issue.
These points may be considered before privatising more organisations in the interest of the country as well as their employees.
Thanks and best regards,
Chah Phalahi Wala,Mohallah Noor Pura,
Hakeem Khadim Ali Road Sialkot.
Phone No. 0312-3553399
Muhammad Tauqeer email@example.com