PTCL Workers will get Shares of BESOS soon: Privatization Commission directed:
BESOS Trusts: PTCL, HBL, NBP, IDBP workers will soon get BESOS shares:
workers of Pakistan Telecommunication Company Limited, National Bank of Pakistan, Habib Bank Limited and Industrial Development Bank of Pakistan will receive 12 percent shares of their organisations from the government under Benazir Employees Stock Option Scheme (BESOS) soon, a statement issued on Monday by Privatisation Commission (PC) said.
The government has directed PC to speed up the establishment of BESOS Trusts in these entities in order to empower the employees, it said.
So far, 39 BESOS Trusts have been registered under BESOS. This scheme was launched on August 14, 2009, to ensure workers’ participation in decision making by having one of their nominee on the board of directors. The employees are also eligible to get regular dividend against their certificates.
The establishment of BESOS Trusts in Pakistan Steel Mills Corporation and Pakistan Steel Fabrication is in final stages.
So far, 12 percent government shares of 27 SOEs have been distributed among 69,644 employees, while 39 BESOS Trusts have been registered in the entities having 94,778 employees. Under this scheme, the workers of 80 SOEs will receive unit certificates and dividends.
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