ISLAMABAD, Nov 5: Senator Prof Khurshid Ahmed of the Jamaat-i-Islami has criticised the government’s plan to privatise some state-owned enterprises for raising funds to overcome the balance of payment crisis.

Referring to a report about the likely sale of National Power Construction Company, Heavy Electrical Complex and Qadirpur Gas Field, the senator said on Wednesday that privatisation of these strategically important companies would be a mistake.

He criticised the privatisation minister for adopting a policy of handing over national assets to foreigners.

He said the balance of payment gap could be met by promoting exports and drastically reducing imports. He urged the government to strive to attract foreign direct investment and increase remittances from overseas Pakistanis.

The JI leader said: “Selling national assets to provide support to the balance of payment gap cannot be called a sane policy; rather it is a blunder which would cost the country immensely.”

He said the government should take parliament into confidence before formulating a policy on the sale of strategically important industries, particularly those relating to heavy machinery, gas, petroleum, electricity and communications.