文章基本信息

标题：Akhtar Hasan Khan. "The Impact of Privatisation in Pakistan.
作者：Qasim, Ahmad Waqar
期刊名称：Pakistan Development Review
印刷版ISSN：0030-9729
出版年度：2012
期号：March
语种：English
出版社：Pakistan Institute of Development Economics
摘要：This book critical examines the practice and the process of privatisation in Pakistan which started by the early 90's and resurge in the first decade of twenty first century. The study was sponsored by the Pakistan Institute of Development Economics (PIDE). The book not only debates the international practice of privatisation but also discourses the basic theory of privatisation. The basic arguments given in favour of privatisation are the efficiency of private sector in allocation and utilisation of investment and resources, reduction of fiscal deficit, and enlarging of the stock market. However, most of the developed and developing countries which are economically performing well have achieved this without adopting privatisation as the major step in the public policy. The privatisation of some sectors and units like, financial institutions, KESC, PTCL, Steel Mill, and Oil and Gas Mills also bring into the debate very efficiently. The basic conditions for the success of the privatisation process have also been deliberated. The first and foremost condition is the transparency at every step from advertisement to the final payments in the process of privatisation. The other essential condition is the proper sequencing and the spread of privatisation over a long period instead of rushed and bunched privatisation. Equally, the selection of the sector to be privatised or not is also important. The success of privatisation is also dependent to other favourable conditions provision of which is the responsibility of the government. Privatisation for the sake of privatisation is critically debated and the book unfolds many shortcomings of the privatisation. As privatisation diverts investment from new technologically advanced ventures into buying public sector units, therefore this could be retarded for the economic growth. Similarly, the privatisation process is not foreign direct investment but permanent remittances of profits. Privatisation has also a negative impact on the employment as indicated by the past experiences of the privatisation in Pakistan. The argument of reduction of fiscal deficit can also be discarded as the privatisation leads to reduction in tax revenues and more tax evasion. On the same token, the belief that privatisation promotes more efficiency of units seems also vague in case of developing countries. The present government should be very cautious about privatisation keeping in view the past experience and should not privatise those sectors and enterprises which are considered as strategically important and deal with the provision of basic goods at subsidised rates. Rather the attention should be paid on the improvement of the management of these public sector units. Moreover, if the privatisation is indispensable then the best mode is through the sale of shares to general public.

Akhtar Hasan Khan. "The Impact of Privatisation in Pakistan.

Qasim, Ahmad Waqar

Akhtar Hasan Khan. "The Impact of Privatisation in Pakistan. Ferozsons (Pvt). Ltd. 2012. Paperback. 166 pages. Rs 395.00.

This book critical examines the practice and the process of privatisation in Pakistan which started by the early 90's and resurge in the first decade of twenty first century. The study was sponsored by the Pakistan Institute of Development Economics (PIDE). The book not only debates the international practice of privatisation but also discourses the basic theory of privatisation. The basic arguments given in favour of privatisation are the efficiency of private sector in allocation and utilisation of investment and resources, reduction of fiscal deficit, and enlarging of the stock market. However, most of the developed and developing countries which are economically performing well have achieved this without adopting privatisation as the major step in the public policy. The privatisation of some sectors and units like, financial institutions, KESC, PTCL, Steel Mill, and Oil and Gas Mills also bring into the debate very efficiently. The basic conditions for the success of the privatisation process have also been deliberated. The first and foremost condition is the transparency at every step from advertisement to the final payments in the process of privatisation. The other essential condition is the proper sequencing and the spread of privatisation over a long period instead of rushed and bunched privatisation. Equally, the selection of the sector to be privatised or not is also important. The success of privatisation is also dependent to other favourable conditions provision of which is the responsibility of the government. Privatisation for the sake of privatisation is critically debated and the book unfolds many shortcomings of the privatisation. As privatisation diverts investment from new technologically advanced ventures into buying public sector units, therefore this could be retarded for the economic growth. Similarly, the privatisation process is not foreign direct investment but permanent remittances of profits. Privatisation has also a negative impact on the employment as indicated by the past experiences of the privatisation in Pakistan. The argument of reduction of fiscal deficit can also be discarded as the privatisation leads to reduction in tax revenues and more tax evasion. On the same token, the belief that privatisation promotes more efficiency of units seems also vague in case of developing countries. The present government should be very cautious about privatisation keeping in view the past experience and should not privatise those sectors and enterprises which are considered as strategically important and deal with the provision of basic goods at subsidised rates. Rather the attention should be paid on the improvement of the management of these public sector units. Moreover, if the privatisation is indispensable then the best mode is through the sale of shares to general public.