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Public sector corporations are white elephants: Mian Muhammad Mansha


Lahore: Mian Muhammad Mansha, Chairman, Nishat Group and MCB Bank has suggested the privatization of all public sector corporations as the only way out of the grave circumstances the country is suffering from, today. He was addressing the inaugural session of Media Advocacy Centre (MAC) at Royal Palm Country Club here today. Mian Muhammad Mansha termed the public sector corporations as the white elephants eating out the bulk of our national budgets even more than the notorious defence budget.

He criticized the politicians for using state owned corporations for political bribery and draining the state out of public money.
“Power is the biggest problem faced by our country today” said the business tycoon “and inexpensiveness of hydroelectricity is one of the biggest misconceptions.” He said that all the hue and cry about dams for economical electricity was baseless as the projected cost per unit of electricity from Neelam Jhelum project was well in excess of Rs. 14.50 and with the passage of time, it was bound to further increase.
Mian Mansha advocated open competition in business for the benefit of consumers at large. He strongly supported open borders with India for bilateral trade. “Let there be an open playing field and inefficient businesses should not be unduly protected.” He said. He was all criticism even for Afghan transit trade blaming it to be responsible for loss of billions to the national exchequer.

Mian Muhammad Mansha was optimistic on the outcome of upcoming general elections.” The people of Pakistan are smart enough and have had enough,” He remarked, “This time, they are going to vote sensibly. “ He said that in these elections he saw a turning point for the fate of this nation.

The session was earlier addressed on the topic of “Media’s responsibilities for free & fair elections” by Kanwar Muhammad Dilshad, former Secretary, Election Commission of Pakistan and Khaleeq ur Rehman, Joint Election Commissioner, Punjab. Sikandar Hameed Lodhi, Chairman and Ashfaq Gondal, President of Media Advocacy Centre (MAC) also addressed on the occasion.

The inaugural session was attended by prominent personalities from media, civil society and policymaking institutions including Dr. Salman Shah, former Minister for Finance, Altaf Saleem, former Minister for Privatization,Shamshad Ahmed Khan, former Secretary, Foreign Affairs, Tariq Saeed Saigol, Chairman, Maple Leaf Group, Tariq Hameed, Former Chairman, WAPDA, Azmat Tareen, President, Silk Bank, Munawwar Baseer, former MD, PEPCO, Shahid Hamid, former Governor Punjab and Salman Siddiq, former Chairman, FBR.

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