KARACHI - Minister for State for Privatization Mohammad Zubair has said the present government is not at all under pressure from International Monetary Fund to privatise state-run institutions rather privatization is the central part of the economic reform agenda of the federal government.

He was speaking as chief guest at 4th Global CEO Excellence Awards-2014 held here at a local hotel. Federal Minister for States and Frontier Regions Lt General (r) Abdul Qadir Baloch, Sindh Minister for Parliamentary Affairs and Environment Dr Sikandar Mandhro, Commissioner Karachi Shoaib Ahmed Siddiqui and CEO Global Media Links Musadiq Aziz were also present.

Mohammad Zubair said that deregulation and privatization had been the two main pillars of economic agenda of the ruling PML (N) government since Nawaz Sharif came into power first time in early 90s. He said the present policy of privatization has nothing to do with the concerned employees of these state-owned institutions as the government is very much keen to protect legitimate interests of the workers of these public sector organizations.

Zubair, who is also chairman of Privatization Commission, said the entire process of privatization would be carried out with complete transparency and public accountability while the needed information regarding the process would be made available on the Internet.

He said the government would surely require guidance and constructive criticism from the concerned business community in order to further improve and make more transparent the process of privatization.

The chairman of Privatization Commission said the present government in its existence of past six to seven months had been lacking to sufficiently deliver to the concerned public according to its economic agenda.

He said that more time would be required by the government for complete turnaround of the national situation owing to highly unsatisfactory state of economy. He said the government had entered into several agreements with prospective international investors to invest mainly in industrial technology, oil, and energy sectors of the country.

Lt Gen (r) Abdul Qadir Baloch reiterated resolve of the present government to restore peace in the city of Karachi where business community would be able to do their necessary activities without sensing threats to their lives. He said the government surely required support of the businessman community in order to rescue the country from the present state of economic mess.

Meanwhile, both State Minister for Privatization and Federal Minister for States and Frontier Regions conferred 46 awards to top managers and heads of leading public, private, and multinational companies. The award winners included leadership of 16 multinational companies.

He particularly greeted Global Media Links and Better Pakistan Forum for regularly holding such ceremonies of appreciation awards in order to celebrate and reward excellence of performance in business and corporate sectors.

Another important feature of the event was holding of Business Leadership Summit whose two separate sessions were presided over by Sindh Minister for Parliamentary Affairs and Environment Dr Sikandar Mandhro and Commissioner Karachi Shoaib Ahmed Siddiqui.

This summit was addressed by leaders of a number of eminent organizations of the country as panellists of the forum. They shed light on modern and innovative trends and skills demonstrated in corporate, business, and industrial sector leadership the world over.