HYDERABAD, April 2: The chairman of the Sindh Taraqqi Pasand Party, Dr Qadir Magsi, has criticized the privatization of the Pak-Saudi Fertilizers Factory and the selling of Rs40 billion Fauji fertilizers plant for Rs75 million and termed it a dacoity on the national wealth.

In a statement issued here on Tuesday, Dr Magsi, who is also president of the Ponam (Pakistan Oppressed Nations Movement), said that on the one hand the rulers were making claims of recovering the looted wealth of the country and on the other hand they themselves had resorted to looting the national wealth.

He said there was no rationale in privatizing the Pak-Saudi Fertilizers Factory which was earning huge profits every year and was the only fertilizer factory in the public sector in Sindh which was providing quality fertilizers to the haris and the growers at reasonable rates.

He said that the private factories had also been compelled to reduce the rates of their products to compete with the Pak-Saudi Fertilizer Factory’s products.

Dr Magsi said that the privatization of the factory would give a carte-blanche to the private sector to fix the prices of fertilizers according to their own will.

He said this would also adversely affect the agriculture sector.

He alleged that the move was aimed to deprive the local workers of jobs.

Dr Magsi warned that if the privatization of the factory was not stopped, the STPP and Ponam would resist the move.