2000 PLP 1112 (MLD)

(C) Welfare of the public and particularly the consumers. (D) Proper utilisation of the proceeds of privatization. (E) Strengthening of the economic structure of the country. (Public Private partnership). (F) Protection of the interest of the workforce. (G) Post privatization regulatory scheme. (H) Protection of the environment and general health. He further submitted that privatization policy should also satisfy the following:‑‑ (a) Transparency; (b) Obtaining the maximum price; and (c,) Equal access to all to participate in the privatization process. He has placed reliance on case law reported in AIR 1992 All. 88, 1996 MLD 705; 1994 MLD 1887; 1996 SCMR 543; 1997 SCMR 641 and PLD 1998 Karachi 416.

8. In his written as well as in oral arguments learned counsel for petitioners in C.P No.D‑439 of 1998 did not seriously oppose privatization, He mainly asked for protection of legal rights of workers relating to their job in case of privatization taking place. He also referred to case‑law reported in PLD 1996 Kar. 27 and PLD 1997 SC 334. 9.???????? Learned counsel for respondents Nos.2 and 3 in :Civil Petition No.D‑438 of 1998 and respondents Nos.l, 3 and 5 in Civil Petition No.D‑439 of 1‑998 submitted that there is no cavil with any objectives of privatization and their implementation as are referred to by the petitioners in their written submissions in Civil Petition No.D‑438 of 1998 and assured that process of privatization shall be conducted in a fair and .transparent manner. He vehemently dismissed the apprehension of the petitioners that the Karachi Electric Supply Corporation would be handed over to the foreign buyers. According to him, anybody coming up to the requisite qualification as per impugned preliminary notice would be free to take part in the process of privatization. Reinforcing his submissions, learned counsel highlighted the policy behind such process, and elaborated that it is aimed at to promote the productivity of power generation, raise earnings, reduce tariff, bring down the subsidies paid by public exchequer, develop capital market by stimulating inflow of foreign investment into the country, besides making the corporation viable. According to him, the industrialised countries like U.K., France and Germany have privatised their state owned properties like Airlines, Railways and other. Lastly, while disclosing that privatization has been approved by C.C.I., he submitted that KESC, is public listed company and there can be no embargo on its privatization through public auction.

10. It appears that in fact there is no dispute between the parties as far as the privatization and the objectives of its policy as identified above are concerned. The petitioners in Civil Petition No.D‑438 of 1998, however, seem to be concerned about transparency of privatization, procurement of maximum price and equal access to all to participate in the auction; whereas, the petitioner in Civil Petition No.D‑439 of 1.998 chiefly demand protection of interest of workers. Suffice it is say that learned counsel for respondents has assured that the privatization shall take place in fair and transparent manner and that there would be no clog on obtaining best possible price on its privatization through publication implying thereby that much care will be taken to get as much price as is possible. It is further expressed that it would be simply speculative that the Corporation shall be handed over to the foreign buyers. We have also examined impugned "Preliminary Notice" published in Daily newspaper Dawn, dated 27‑3‑1998 and find nothing therein that the invitation has been restricted only to aliens. Silent features as reflected from the relevant portion of the said Preliminary Notice inviting the information are reproduced below:‑‑ "The Government of Pakistan ('GoP') through the Privatization Commission intends to sell upto 51 % of its equity interest in the Karachi Electric Supply Corporation ('K.E.S.C.') to a strategic buyer who would also be given management control. The GoP has appointed the Union Bank of Switzerland as the financial advisor (the 'Financial Advisor') for this transaction .... Request for preliminary information on K.E.S.C. by interested parties (Companies and/or consortia) is hereby invited which should focus on and include brief details on the following criteria. Such requests must be submitted to the Financial Advisor (on the address/telefax number provided below) by close of business on April 10, 1998 either by mail or fax .... The Government of Pakistan, in its sole discretion, reserves the right not to respond to any such request for preliminary or other information based on a review of the information provided by any interest party. It is evident from the above preliminary notice that Government of Pakistan through the Privatization Commission intends to sell up to 51 % of its equity interest in KESC to the strategic buyers who would be given management and control. The intended disposal of the shares is patently not restricted to the foreigners. Learned counsel for respondents No.3. in this written submission has also expressed in categorical terms that respondent No.3 is not acting in any manner that may be prejudical to the interest of respondent No.2, its employees or customers and to the country, too. Therefore, there seems to be nothing but false apprehensions on the part of the petitioner. In these circumstances, an exercise to discuss plethora of case law referred to by learned counsel for parties shall be serve no useful purpose being an academic discussion.

11. The Constitutional Petitions, therefore, seem to be patently misconceived and the same are dismissed in limine alongwith listed applications. Q.M.H./M.A.K./P‑6/K??????????? Petition dismissed.