Way to avoid bankruptcy: The government of Pakistan will sell government companies and assets, and cabinet approval for a new bill

Posted on 25th Jul 2022 by rohit kumar

The Pakistan cabinet has approved a bill. Under this, now the government will be able to sell government assets. According to the ordinance, Pakistan will sell its oil and gas companies to the United Arab Emirates (UAE). Apart from this, some more companies will be sold to countries like Saudi Arabia and China. According to media reports, the Shahbaz Sharif government took this decision because now no country is giving loans to Pakistan.

 

The interesting thing is that when Imran Khan was the Prime Minister, he mortgaged many highways and airports in the country to keep the debt. Now Imran Khan is raising his voice against the decision of the Sharif government.

 

ready to sell

 

According to news agency ANI, Pakistan Petroleum Limited, Oil Gas Development Company Limited, and Muri Gas Company are the first to sell. The trouble started in May. At that time the UAE had categorically refused to give more loans to Pakistan. UAE had said that Pakistan is not able to repay the loan already.

 

According to an estimate, the Sharif government will get 2 to 2.5 billion dollars by selling these companies. With this, the crisis of bankruptcy will be avoided for a few months.

 

no accountability

 

According to reports, such arrangements have been made in the ordinance that the government will be able to sell these companies without any hindrance. It cannot be legally obstructed. The bill cannot even be challenged in court.

 

A difficulty still exists in the matter of the Bill. President Arif Alvi will give its final approval. Alvi is a supporter of Imran Khan and works at his behest. However, Imran is expected to win the next election. Therefore, it is believed that they will avoid taking tough decisions like selling assets. That's why they want that this blessing should come only from the Sharif government.

 

The Pakistan government took this decision because the IMF has not yet given it the green signal for the loan. The attitude of the World Bank and the Asian Development Bank has also been negative in this matter.

 

Imran's taunt

 

Former Prime Minister Imran Khan took a jibe at the Sharif government for possessing the ordinance to sell the assets. Khan said on social media – This is an imported government brought by America. The Wazir-e-Azam of the country is a thief and a criminal. He has got the support of corrupt people like Zardari. The biggest problem is that the decision of the government cannot be challenged anywhere.

 

By the way, Imran is now just making political rhetoric. The truth is that when he was the Prime Minister, the country's airports and highways were mortgaged. Imran never gave any clarification on this matter. At that time Saudi Arabia categorically refused to give a loan to Pakistan.

 

Also Read: Mohammad Yousuf will take over the responsibility of permanent batting coach of the Pakistan team, which will be announced soon

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