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Privatization of Public Sector

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Privatization of Public Sector
“Privatization is presented as being the only alternative to an inefficient, corrupt state. In fact, it is not a choice at all... it is a mutually profitable business contract between the private company (preferably foreign) and the ruling elite of the Third World”

Arundhati Roy

ISLAMABAD: Pakistan has lost an unbelievably high amount, more than Rs8,500 billion (Rs8.5 trillion or US$94 billion), in corruption, tax evasion and bad governance during the last four years , Transparency International Pakistan (TIP) claims. The News,Front Page,5 Feb 2012.

ABBREVIATIONS
ADB Asian Development Bank
CMDP Capital Market Development Program
CPS Country Partnership Strategy
DFI Development Finance Institution
FDI Foreign Direct Investment
GENCOs Generation Companies
GCI Global Competitiveness Index
GDP Gross Domestic Product
GDR Global Depository Receipt
GoP Government of Pakistan
HBL Habib Bank Limited
IFI International Finance Institution
IMF International Monetary Fund
IPO Initial Public Offering
IPP Independent Power Producers
MCA Monopoly Control Authority
MTDF Medium Term Development Framework
KESC Karachi Electric Supply Corporation
KPT Karachi Port Trust
KSE Karachi Stock Exchange
NCBs Nationalized Commercial Banks
NEPRA National Electric Power Regulatory Authority
NHA National Highway Authority
NICL National Insurance Company Limited
NRL National Refinery Limited
OGDCL Oil and Gas Development Corporation Limited
OGRA Oil and Gas Regulatory Authority
PC Privatization Commission
PEMRA Pakistan Electronic Media Regulatory Authority
PPID Pakistan Private Infrastructure Development
PPL Pakistan Petroleum Limited
PPP Public Private


Bibliography: 7. Ministry of Finance. 2006. Pakistan Economic Survey 2006-07. Islamabad 8 12. World Bank. 2006. Pakistan – Growth and Export Competitiveness. Islamabad 13 14. State Bank of Pakistan. 2005. Pakistan Financial Sector Assessment 2005. 15. State Bank of Pakistan. 2006. Pakistan Financial Stability Review 2006. 16 21. ADB. 2007. Constraints to Private Sector Investment in Infrastructure. Manila 22 23. ADB. 2006. Key Indicators 2006: Measuring Policy Effectiveness in health and Education. Manila 24 25. Kaufmann D., A. Kraay, and M. Mastruzzi. 2007. Governance Matters VI: Governance Indicators for 1996-2006. World Bank: Washington D.C 26 27. Investment Climate Assessment, Small and Medium Enterprise Development Authority and the World Bank. 2001. 28. World Economic Forum. 2007. Global Competitiveness Report . 29. Competitiveness Support Fund. 2007. The State of Pakistan’s Competitiveness 2007. Islamabad 30 31. Gennari, P. 2004. The Estimation of Employment and Value Added of Informal Sector in Pakistan" Bangkok. (UNESCAP) 32 33. State Bank of Pakistan. 2007. Financial Stability Review. Karachi 34 35. Source: Gomez, A.Jose, Dominique Lorraine and Meg Osius. 2004. The Future of Private Infrastructure. Cambridge Massacheutts: Taubman Center for State and Local Government Kennedy School of Government, Harvard University.
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