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The State, Industry and Commerce – III

Among the designated HIT LIST of the Disinvestment Committee for Privatisation are the Trading Corporation of Pakistan (TCP), the Rice Export Corporation of Pakistan (RECP) and the Cotton Export Corporation of Pakistan (CECP). The performance of TCP, except for a brief period under Mr Yousuf as Chairman during 1983-85, has been more or less atrocious, more due to mala fide intervention (or benign negligence) of the Ministry of Commerce (MoC) as opposed to its own shortcomings. RECP and CECP could have performed much better, in the final analysis they have more than served the national purpose. The efficacy of top management and national requirement may have varied directly proportional to the quality of bureaucrats posted in but Pakistan has had a world position for the last two decades in rice and cotton because of the monopoly situation created by RECP and CECP.