Muhammad Aurangzeb, the Finance Minister, has announced that state-owned enterprises (SOEs) are losing about Rs. 2.2 billion each day, and their cumulative loss over the past ten years stands at Rs. 6 trillion.
The minister was addressing a seminar organized by the Securities and Exchange Commission of Pakistan (SECP) and proposed that at least 50 percent of these public enterprises be privatized to increase their efficiency and reduce government expenditure.
He observed that the major problems that Pakistan faces are due to this rising population growth, which includes child malnutrition and the high number of out-of-school children.
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The Finance Minister emphasized that unless the population growth rate is controlled, matters will become much worse. He added that the role of the private sector must be emphasized in national economic enhancement.
Aurangzeb said that the Prime Minister was likely to unfold within 10 days the entire economic roadmap for the country.