I have no insights into the economic case for Pakistan’s state-owned enterprises–whether there are the kind of market failures in particular Pakistani industries that justify state enterprise–but I certainly applaud attempts to reduce corruption at Pakistani state-owned enterprises. From the Express Tribune:
The incoming Pakistan Muslim League-Nawaz government has decided to replace heads of all those loss-making state-owned enterprises that need a cushion of billions of rupees every year to keep their wheels moving.
This was announced by PML-N central leader Ahsan Iqbal, who said heads and chief executives of loss-making giants like Pakistan Steel Mills, PIA, Pakistan Railways and Pakistan National Shipping Corporation would be removed in an effort to end financial haemorrhaging worth hundreds of billions of rupees.
“Applications for these high posts will be invited through advertisements in the media on the very first day the new government takes over,” Iqbal told members of the Lahore Economic Journalists Association here on Wednesday.
[Image:Pakistan Muslim League-Nawaz (PML-N) Deputy Secretary General, Ahsan Iqbal. Express Tribune photo]