Sale of loss-making government entities demanded: PEW
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The Pakistan Economy Watch (PEW) on Sunday said that trade deficit of first eleven months of the current fiscal has reached to thirty billion dollars calling for urgent steps to reduce expenses.
The government should take some meaningful steps to reduce the deficit while the process should begin with the sale of Pakistan Steel Mills, PIA, power companies and other bleeding enterprises, it said.
Transformation of state-owned assets into the property of persons independent of the state will help government raise funds, reduce losses, cut the budget deficit, improve exchange rate and boost the ailing economy, said Dr. Murtaza Mughal, President PEW.
He said that privatization is an integral part of the on-going process of economic reforms which must be carried out very carefully to identify and remove things which are compromising national growth.
