Pakistan’s Bank Privatization First in Long Line of Deals

[Silaaj]

Re: Pakistan’s Bank Privatization First in Long Line of Deals

@kakaballi

Other than inefficiencies, corruption and nepotism, we see that

Government run industries = Parking space for your political supporters. E.G. PIA full of PPP jiyalas.

Government run banks = Source of free finance for politicians. Everyone enjoyed ‘loans’ of billions of rupees from such banks that were never returned.

Even if you give away such ‘assets’ for $1, Pakistan would still be better off.

Agree with the first part, but what is the compulsion for the bold part?

Almost any nationalized institution, no matter how shabby, has the potential to fetch top dollar. But there is a large amount of inherent corruption in our system that some how compels our rulers to short change the public exchequer, as it is not them taking the loss. In the recent UBL privatization, a lot of fingers are being raised at the hastily arranged process, and the below market price at which it has been sold. No answers from the govt on that so far, and neither do I expect any, as PMLN isnt exactly known for its transparency.