ISLAMABAD: State Minister for Privatization Muhammad Zubair Ummar on Friday clarified that the government was not privatizing Oil and Gas Development Company (OGDL).
Addressing a press conference, Zubair said that there would be not change in the management of OGDCL and any party interesting to purchase stakes in the company would have not the liberty to by unlimited shares.
In a bid to address the workers’ concerns over the privatization of OGDCL, he said that not a single employ of the company would be laid off after the shares sale.
He said that the government was planning to sell only 10 percent shares of the company and employees of the company could also purchase shares.
He insisted that the process of shares sale was completely transparent and nothing was being concealed.
The minister said that the government was ready to allay the concerns of the company’s employees.
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