Minister for Privatisation Fawad Hassan Fawad on Thursday said the process of privatisation being pursued by the caretaker government is within the mandate entrusted upon it by the previous elected government, state-run Radio Pakistan reported.
The minster said the purpose of privatisation is to make the loss-making entities profitable and add value in their services for the people.
He was addressing a news conference alongside Minister for Information and Broadcasting Murtaza Solangi in Islamabad.
The minister refuted the impression that the caretaker government has extended the privatisation process under some policy.
He mentioned the amendment made by the previous government in section 230 of the Elections Act in which the mandate of caretaker government was expanded to continue the policies for the sake of continuity.
“Privatisation process has certain timelines, which cannot be skipped otherwise the financial costs of delay in these transactions will directly burden the national economy causing increase in fiscal deficit and upsurge in inflation,” Fawad said.