Also known as "public enterprises" and "parastatals." The preferred term appears to
be "state-owned enterprises" often with the hyphen missing.
R. Bokhari, "Privatization in Pakistan," in
V. V. Ramanadhan, ed., Privatization in
Developing Countries ( London: Routledge, 1989).
Throughout this chapter, figures are given in current US dollars based on the prevailing exchange rate.
I. Nabi, "Foreign Direct Investment Lessons from the Asian Experience," in
ed., Financing Pakistan's Development in the 1990s ( Lahore: Lahore University of Management Sciences and Karachi: Oxford University Press, 1992).
5. Although the Nawaz Sharif government actually began to privatize when the prime
minister appointed the Committee on Deregulation and Disinvestment (see Table 5.1) in
late 1990, it was not until early 1991 that the first state-owned enterprise (the Muslim
Commercial Bank) was sold. 6.
N. U. Haque and
P. J. Montiel, "How Mobile is Capital in Developing Countries?," Finance & Development, Vol. 28, no. 3 ( September 1991).
Figures were obtained from the World Bank, World Development Report, various
See State Bank of Pakistan, Annual Report, 1990-91 (Islamabad: 1992).
I. Elwan, "Privatization, Deregulation and Macroeconomic Policies," in
V. A. Jafferey,
ed., Structural Adjustment and Macroeconomic Policy Issues ( Washington, DC: International Monetary Fund; Lahore: Pakistan Administrative Staff College, 1992).
L. G. Cowan, Privatization in the Developing World ( Westport, Connecticut: Greenwood Press, 1990).
Interview conducted by Robert LaPorte, Jr., with Ghulam Ishaq Khan, Peshawar, April 6, 1995.
World Development Report, 1983 ( Washington, DC: Oxford University Press, 1983).
Interview conducted by Robert LaPorte, Jr., with consultant to the Privatization
Commission, April 1995.
See Guthrie S. Birkhead "Government by Corporations," in
Guthrie S. Birkhead,