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WorldOctober 1 2014

Giving Pakistan's privatisation drive a push

Having had a long and successful career in the commercial sector, Mohammad Zubair, Pakistan's privatisation minister, understands the importance of the country's privatisation drive. But, not everybody shares his enthusiasm, with the heavily unionised companies putting up resistance to the privatisation plans, and foreign investors wary of the country's less-than-perfect track record in denationalisation deals.
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Privatisation in Pakistan has a chequered history, to say the least. When prime minister Nawaz Sharif offered Mohammad Zubair the post of privatisation minister in late 2013, a colleague urged him not to take it. His reason? Everyone that had held the position before had gone to jail. Mr Zubair slept on it, and then took the job anyway.

Privatisation is a must-do if the Pakistani government is to continue to meet the International Monetary Fund’s budget deficit reduction targets. But it also chimes with the Pakistan Muslim League party’s centre-right leanings. “Government should have no role in running business,” says Mr Zubair. “We just want to create a conducive environment for it.”

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