Procedures and protocol
Privatisation is clearly one of those areas where the present and former government will continue to lock horns for some time to come. With little going its way, especially on the economic front – despite official claims to the contrary – the government is banking on ‘selling family silver’ to keep credit markets solvent. Budget speeches are one thing, but the government simply does not have the foreign exchange to preserve its spending habits for too long. The IMF, of course, knows this well (as it does the bogus growth rate); hence the thrust on privatisation as the economic program rolls on.
But Raza Rabbani’s concerns are no less relevant. And it’s a fair reflection of the opposition’s will that the people’s party’s parliamentary leader in the senate has personally written to all chief ministers – and distributed copies of the letter to the press – warning against the centre infringing on provincial jurisdiction in its haste to sell-off whatever possible. That the Council of Common Interests be involved is a reasonable demand; and the concern that the government might leverage previous CCI declarations for achieving its goals, too, seems justified. Now the government, instead of reacting to opposition concerns as it is used to doing, should adopt a proactive strategy that details the benefits of its policy. Is it a calculated strategy or simply desperation fire sale? If the former, what is the time calculated period and what intrinsic benefits is it likely to bring (financial benefits, of course)?
Going by popular and accepted practice, bloated public enterprises must first be trimmed and made effective before putting up for sale. And there’s no denying the political appointments or financial haemorrhaging that typify our PSE’s. But if they can be turned around, then perhaps an argument for retaining them can also be made. Also, the N-league must ensure thorough process of law. The slightest over-extension and much can unravel very quickly. They would do well to study the Musharraf-Shaukat era attempt of privatising the steel mills, and its unfortunate spillover. The country is at a much more sensitive point now. And if the government itself bypasses procedures and protocols, then there is little hope of better times ahead.
