Privatisation in Pakistan

                                                                                                                Pakistan is soon starting what may be called her fourth generation of privatisation. The first round, which  started in 1950s and peaked in 1960s, was meant to strengthen a nascent private sector which was  reluctant to invest in industry  either due to paucity of requisite resources at its disposal or  high risks involved or both. Consequently the state built factories in strategic and other important sectors and handed them over, at very nominal rates, to the businessmen which laid the foundations of Pakistan’s industrial sector. The second generation privatisation, carried out in 1980s was mainly the de-nationalisation of industries nationalised during the 1970s.However 1990s and to some extent early 2000s were the heydays of privatisation when large number of  state owned enterprises were sold to private sector to improve the efficiency and service delivery of the SOEs, by bringing in the incentive and reward mechanism of the private sector who would inject capital, technology and better management practices to  reap efficiency gains more than reducing state losses.
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