Transparency is the first and foremost responsibility of the Government when it comes to privatizing institutes. Privatization has always been a hotly debated topic in Pakistan. Privatization of institutes has often been followed by wide spread allegations of corruption and favoritism. Moreover there have been very few privatized institutes that turned around for the better after the privatization. The Pakistan Tehreek-e-Insaf has earned plaudit for its stance on privatization of institutes, the party has always put forward the demand of transparency. However recent news has put a question mark on the party’s stance. According to the news plans are underway to privatize The Bank of Khyber, the man behind this alleged sale is thought to be Asad Umar, the former Chief Executive Officer of Engro and senior PTI leader who won the NA-48 seat from Islamabad. If the news is to be believed Asad has also managed to convince Jahangir Khan Tareen who has a lot of influence in the party on the sale of the bank. It is also pertinent to mention that the Bank of Khyber is a profitable bank and has a profit of Rupees 2.6 billion in the preceding year. As of 2014 the bank had 116 branches all over the country and also received approval from State Bank of Pakistan to open another 14 branches in 2015. Asad Umar has built a great reputation in a short time as a parliamentarian since joining PTI, it is hoped that the alleged plans for privatization of Bank of Khyber will turn out to be false, else it will be a huge debacle for the reputation of not only Asad Umar but PTI as well, which has emerged as the torch bearer of transparency in matters related to privatization.
Business community asked to take maximum benefit of vaccination centres for normalization of activities
Islamabad: Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce & Industry (ICCI) said that ICCI in collaboration with NCOC...Read more