This week's sale of the strategic stake in Habib Bank, the country's second largest commercial bank, is being seen as the first in a number of sell-offs the government plans for the year.
The Privatization Commission is understandably proud of this sale because it is stated to have met the minimum price target. However, some quarters have expressed their reservations over the manner in which the bidding process was conducted.
The senate is expected to hold a discussion on this although for all practical purposes the deal appears to have been signed and sealed. One aspect that needs to be looked into is the lack of bidders for what is one of the banking industry's most attractive entities.
Nineteen investors gave their expressions of interest of which the government short-listed only three. Of these three, one did not bother to even put in a bid. The timing of this sale at the year end and the fact that many of the big players in the market were missing from the final bidding process does not reflect favourably on the work of the Privatization Commission in attracting the right candidates.
Another broader issue is the government's overall approach to privatization. The privatization minister says that the exchequer is incurring a burden of over Rs90 billion annually because of loss-making units.
However, what we are seeing is that it is the profitable public sector entities that are being sold off in haste while the less attractive organizations remain unsold. The government's argument that the sale of the more viable entities will entice investors to the country to buy the less attractive options remains to be tested.
The privatization minister has also argued that the sale of state-owned units and the induction of the private sector would generate more jobs. In the decade of privatization that the country has witnessed, this has not happened. Instead, what we have seen are closures and retrenchments.
In conclusion, it can be said that the whole privatization process should not just be seen as a means for the government of the day to generate more funds and get rid of public sector entities. The general interest in terms of jobs as well as the prices of the goods or services these entities deliver should also be taken into consideration.
Celebrations under siege
Most countries take elaborate measures to facilitate New Year's celebrations for their citizens (in Berlin, for example, 800,000 people thronged the main city square on New Year's eve), but in Pakistan it is quite the opposite.
Government and police officials repeat dire warnings to remind all and sundry that no wild celebrations will be tolerated and that revellers must keep themselves within the "limits of morality".
One provincial government officially banned any celebration of the New Year and ordered video shops to close. Then, we have our fair share of elements who have taken upon themselves to be everyone else's moral guardians.
This year in Peshawar and Karachi, groups of self-styled vigilantes mobilized a so-called 'baton force,' threatening to beat up anyone who celebrated the New Year.
There can be no defence of hooliganism or disorderly behaviour, no matter what the occasion. But the kind of ham-handed tactics employed to prevent the possibility of rowdyism only put young people's back up.
Barricading roads and cordoning off areas inconvenience hundreds of people who may have nothing to do with New Year festivities. In Karachi, the zealousness of officialdom seemed to know no bounds and some major roads were blocked over 12 hours in advance, causing immense frustration among road-users in this season of weddings.
Such an officious approach only hurts law-abiding citizens who want to enjoy the night but have no invitations or tickets to private parties or charity balls. It is also about time that the government told the self-appointed custodians of our morality that threats to beat up revellers amount to taking the law into one's own hands.
Pakistan's official business and the personal lives of its citizens are governed by the calender we follow. If people want to see the old year out and the New Year in with a smile on their faces, why should anyone deprive them of this relief from the daily grind?