Privatization has been promoted in Pakistan since the year 1991. Moreover globalization and the increasing popularity of a market economy are two other factors that have strengthened the importance of the private sector in Pakistan. As for the objectives of the private sector, the first objective revolves around the prospect of creating better opportunities for the private sector in order for it to promote expansion and modernization. Another objective of privatization is the improvement of productivity and profitability, which would also contribute towards enhancing the image of the country in the international circles. Next in line is the objective of reducing the heap of burden that is on the shoulders of the government regarding the allocation of economic resources. Moreover privatization is also supposed to accomplish the objective of facilitating the economic activities taking place in the economic sector. Last but not the least, privatization is aimed to strengthen and intensify the growth of the industrial sector of Pakistan.
