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BESOS Trust formed in PR

ISLAMABAD: A representative 9-member delegation of Pakistan Railways (PR) CBA PREM Union led by its Secretary General Ishtiaq Ahmed Aasi, which held a meeting with Senator Waqar Ahmed Khan Federal Minister for Privatisation here, lauded the formation  of Benazir Employees Stock Option Scheme (BESOS) Trust in Pakistan Railways (PR) and the government’s announcement for not privatising PR.
The meeting was first of the series to initiate consultations with the CBA Workers Unions of Public Sector Entities (PSEs) to take on board the workforce, management and all the respective stakeholders for the capacity building and improvement of SoEs and to resolve the employees fears, doubts and grievances if any in this regard.
Senator Waqar directed the Privatisation Commission officials to set up BESOS Trust in Pakistan Railways after having workers nominations as Trustees from all the workers unions of PR and to register it without any further delay in order to distribute 12 per cent GoP shares of PR among the employees for empowering them and to have their representation on PR Board for participating in the decision making process for the improvement and the progress of the entity for making it profitable. The Minister briefed the delegation regarding the turnaround plan for PR and informed that through equity related instrument fund raising for PR without selling any asset and on the basis of asset based security, was in accordance with the President Asif Ali Zardari and the Prime Minister Yousaf Raza Gilani’s instructions to strengthen the PSEs to make them functional and enhance their productivity while protecting the jobs and the worker’s rights. A meeting of the management and workers would soon be convened to reach at a consensus for making joint efforts for making improvements in PR, he added. CBA PREM Union Secretary General Ishtiaq Ahmed Aasi urged the need to have competent professionals in an important institution like PR as the institution have been ruined and made loss making by inefficient non professional officials and the corruption. The PR employees would extend full support to the government, without any opposition in every such step, which was designed for the betterment of the institution, however, there was a need to further understand the concept and to establish an atmosphere of understanding, he said. -Online


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