Fearing court cases on privatization of companies in other countries, the World Bank advised the government to list the shares of the companies in the stock market and then privatize them in a transparent manner.
According to the World Bank report, political parties are against privatization, political interference or court cases will affect the process of privatization.
With the Pakistan Steel Mills and Recodec judgments of the Supreme Court, Pakistan emerged as a non-complying country at the global level, the privatization of power sector enterprises could not take place due to labor unions.
Even after the privatization of K Electric, the performance has not been satisfactory, Pakistan’s privatization program has stalled since the 2007 Supreme Court ruling.
The profitability of Pakistani state-owned companies is the lowest among South Asian countries.
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