Today is the era of privatization. The concept of government ownership of business is now considered obsolete. Nationalized institutions are being rapidly privatized in Pakistan, contrary to this fashion in the world, the new ruling Labor Party in Britain has announced that it intends to re-nationalise the privatized trains. is Transport fares in Great Britain are currently higher than in the whole of Europe. When we tried to understand the issue with the leaders of the Labor Party, they said that the rail network, i.e. the track and its construction and repair, is with the government, but the trains. The private sector is running, according to him the private sector is making lots of money but not making new investments. Instead of competing with each other, deals are done internally, so the Labor Party will nationalize some trains so that the private sector cannot be arbitrary. Capitalism is rich in many virtues and has had many successes in the world, but it also has huge flaws, one of which is manifested in the form of the most expensive train fares in the UK and the new The government has to reject privatization and move towards public ownership because the main objective of the state is public welfare whether it is through privatization or public ownership.

In the 60s and 70s, there was a trend of nationalization of industries all over the world, in Pakistan also, large industries, banks and many commercial institutions were nationalized, which caused serious damage to private business, nationalized institutions were also destroyed. The established middle class was left disintegrated, but on the other hand, with the coming into government ownership, the rate of sugar and flour was controlled, the scarcity of things was controlled, and the looting and exploitation of capitalists and manufacturers ended. The ownership decision proved detrimental to the economy, so privatization began in the 80s and is still ongoing. The private sector plays the most important role in the development of any country, but if the government control and balance is not kept on the private sector, the illegal profiteering and exploitation starts, the latest example of this is the pressure of the sugar mill owners. Punjab Secretary Food and Cane Commissioner opposed this decision and took the stand that if it is exported, the price of sugar will increase on a daily basis, the mill owners will benefit billions and it will be unfair on the people. There will be a burden, but the private sector is so strong that not only did it make a decision in favor of export, but the provincial food secretary and the cane commissioner of Punjab were made special officers for speaking the truth. During the Tehreek-e-Insaf government, the sugar scandal also came to light, then when the inquiries were made, many other things came to light. Unfortunately, the same monopoly of sugar mill owners is also in the Indian province of Maharashtra, today’s New York Times has published a full detail on their exploitation on the front page. Movies have also been made.

The privatization of the cement industry in Pakistan has freed the state from the burden, the industry has also got modern machinery for development, cement export has also taken place, but the mills have established a monopoly or monopoly in this too. They do it, there is no environment of competition, collusion is going on when they want, they increase the rate of cement at will. Keeping Cartel and monopoly laws were enacted in America in the 1920s, but there is no effective remedy in Pakistan. In the same way, by giving private custody of the banks, the headache of the government ended, but at the moment, the banks are earning the highest profit in the country, neither giving loans to the public nor any other facility. Most of the bank owners are based abroad, they receive their profits while sitting outside, they do not take the slightest risk, nor are they concerned about the growth of business in the country. They give loans to the government at exorbitant rates of interest and indulge themselves. Isn’t it the duty of the State Bank to compel the banks for the welfare of the common businessman?

In the same way, we sold the profitable telecom company to a company in the Gulf, now the situation is that this company has not made new investments in this sector, once we were the most advanced countries in the world in this sector. There were bridges, now we have gone far behind in internet etc. Private companies are interested in making profit but they do not bring new technology nor invest and thus the sector starts to decline.

Today we are very active about the privatization of national airline PIA and Pakistan Steel Mill, we should take decisions keeping in mind the past experience, not creating any new monopoly or cartel and the interest of the consumers. Should be prioritized.