The Politics of Privatization: Who Really Benefits from Pakistan’s Asset Transfers?

The Politics of Privatization: Who Really Benefits from Pakistan’s Asset Transfers?

Introduction: Privatization Beyond Economics Privatization has been presented for decades in Pakistan as the only road to efficiency, fiscal prudence, and modernity. The story, persuasively marketed by foreign lenders and local elites, goes like this: the state is bloated, wasteful, and unable to handle resources. Thus, its assets need to be transferred to the private sector, ideally foreign investors, who are assumed to provide greater producti…